It is predicted that XAU will continue to increase in the near f
Updated
Spot world gold stands around 2,309.5
World gold prices decreased rapidly in the context of the USD rebounding in the midst of an unstable world
The USD has continued to increase in price compared to most other currencies since the beginning of the year, thereby making investors worried.
Since the beginning of the year until now, the USD has increased about 4% compared to a basket of 6 major currencies.
A still strong USD is putting downward pressure on gold prices, even though demand for precious metals is increasing strongly around the world, especially in Asia.
Many recent forecasts say that gold will be under downward pressure this summer, possibly in May-June because the Fed will still delay reversing monetary policy, thereby causing the USD to stand at a high level.
However, gradually towards the end of the year, gold will increase again and may reach a new peak. The Fed is currently very worried that inflation may rise again and that if it cuts interest rates early, it may not be able to control commodity prices.
Some countries such as Indonesia were recently forced to raise interest rates, despite the economy's declining growth. But the US is different, the USD is very strong so the Fed will just wait for the right time to reduce interest rates, maybe around next September.
World gold prices decreased rapidly in the context of the USD rebounding in the midst of an unstable world
The USD has continued to increase in price compared to most other currencies since the beginning of the year, thereby making investors worried.
Since the beginning of the year until now, the USD has increased about 4% compared to a basket of 6 major currencies.
A still strong USD is putting downward pressure on gold prices, even though demand for precious metals is increasing strongly around the world, especially in Asia.
Many recent forecasts say that gold will be under downward pressure this summer, possibly in May-June because the Fed will still delay reversing monetary policy, thereby causing the USD to stand at a high level.
However, gradually towards the end of the year, gold will increase again and may reach a new peak. The Fed is currently very worried that inflation may rise again and that if it cuts interest rates early, it may not be able to control commodity prices.
Some countries such as Indonesia were recently forced to raise interest rates, despite the economy's declining growth. But the US is different, the USD is very strong so the Fed will just wait for the right time to reduce interest rates, maybe around next September.
Note
💵XAUUSD XAU 2307-2305 💵✔️TP 2315
✔️TP 2320
❌SL 2300
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