Guide to BUY XAU for today
Updated
, gold has increased by 5 in 6 moderate versions. The US Dollar Index has also decreased in 6 of the last 7 sessions. Chandler said he expects the dollar to continue its downward trend because he believes the interest rate adjustment is coming to an end. He believes that spot gold could rise to $2,050/ounce this week.
If upcoming economic data continues to be upbeat, the Fed will begin to lose its dovish bias, which could cause gold to decline significantly.
Gold may be at risk, the recent increase in gold demand is due to expectations that the Fed will soon cut interest rates. Recent inflation data has pushed expectations for interest rate cuts to June. This time may be delayed to September if inflation remains "persistent".
Gold prices this week remained stuck in the recent range. According to him, gold will move sideways and in the near term, there will be no fundamental catalyst to inspire speculators to be more active.
As the Fed's main inflation measure, the PCE index released on Thursday will be the most important information expected by the market this week. Along with that, markets will also monitor home sales, consumer confidence reports, US fourth quarter GDP reports, and pending home sales.
If upcoming economic data continues to be upbeat, the Fed will begin to lose its dovish bias, which could cause gold to decline significantly.
Gold may be at risk, the recent increase in gold demand is due to expectations that the Fed will soon cut interest rates. Recent inflation data has pushed expectations for interest rate cuts to June. This time may be delayed to September if inflation remains "persistent".
Gold prices this week remained stuck in the recent range. According to him, gold will move sideways and in the near term, there will be no fundamental catalyst to inspire speculators to be more active.
As the Fed's main inflation measure, the PCE index released on Thursday will be the most important information expected by the market this week. Along with that, markets will also monitor home sales, consumer confidence reports, US fourth quarter GDP reports, and pending home sales.
Note
BUY GOLD 2023 - 2025TP1: 2030
TP2: 2035
SL: 2013
Note
Hit TP1
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