Gold price increased for 3 consecutive sessions.

World gold spot price is around 2,179 USD/ounce, up 7 USD/ounce compared to the transaction at the same time yesterday morning.

Yesterday, the financial market received more information about the US economy's mixed developments. Specifically, US CB consumer confidence decreased from 104.8 points in February to 104.7 points in March, much lower than the forecast of 106.9 points. Along with that, Richmond's manufacturing index in March also dropped sharply from minus 5 last month to minus 11.

However, February durable goods orders in the US increased from a 6.9% decline in January to 1.4%. Core durable goods orders increased from negative 0.3% in January to 0.5% in February. Wholesale sales increased from 0.1% to 0.8%.

Although durable goods orders increased sharply in February, supporting the rise of the USD, the decline in consumer confidence index caused investors to increase their gold purchases. They believe that risks are still lurking in the world's largest economy, as reduced consumer confidence will impact weak production in the future.

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⭕️S&P 500 rises as it tries to snap 3-day slide, Dow jumps 200 points.

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🔹Positive open expected for European stocks as the region’s markets bounce back.

🔹UK recession confirmed.

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Gold prices rose to a record high at the end of trading on Thursday, recording their best month in more than three years, driven by expectations of a cut in US interest rates and strong demand for safe havens.

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The influential investment bank has shifted its outlook on commodities to buy as early as 2024, citing cyclical and structural support for demand, and the role of commodities as a hedge against geopolitical risks.

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Looking back at last week's economic data released by the US, the market believes that gold prices may be under downward pressure, with gold speculative positions falling during the week.