Trading strategy before Nonfarm news on April 5
Updated
World gold prices fluctuated slightly with spot gold down 9 USD to 2,290.7 USD/ounce. Gold futures last traded at 2,310.5 USD/ounce, down 10 USD compared to yesterday morning.
World yellow metal prices stabilized on April 4 (US time) after previously conquering an all-time high of over 2,300 USD/ounce thanks to expectations that the US Federal Reserve (Fed) will conduct further easing. loose monetary policy this year.
According to TD Securities commodity strategist Bart Melek, market expectations increased after the Fed Chairman's recent speech. Accordingly, Mr. Jerome Powell agreed that lower policy rates would be appropriate “at some point this year.” He and other Fed officials also emphasized that more economic data is needed before making a decision to loosen monetary policy, a move that financial markets expect will take place in September. 6.
According to market analyst Carlo Alberto De Casa of Kinesis Money, strong demand from Asian markets, especially from China and solid demand from central banks, geopolitical risks and expectations surrounding interest rate cuts by central banks are factors that have fueled the rise of gold in recent times.
Strong central bank buying and solid safe-haven capital flows amid growing geopolitical tensions have boosted demand for gold, up more than 25% since October.
World yellow metal prices stabilized on April 4 (US time) after previously conquering an all-time high of over 2,300 USD/ounce thanks to expectations that the US Federal Reserve (Fed) will conduct further easing. loose monetary policy this year.
According to TD Securities commodity strategist Bart Melek, market expectations increased after the Fed Chairman's recent speech. Accordingly, Mr. Jerome Powell agreed that lower policy rates would be appropriate “at some point this year.” He and other Fed officials also emphasized that more economic data is needed before making a decision to loosen monetary policy, a move that financial markets expect will take place in September. 6.
According to market analyst Carlo Alberto De Casa of Kinesis Money, strong demand from Asian markets, especially from China and solid demand from central banks, geopolitical risks and expectations surrounding interest rate cuts by central banks are factors that have fueled the rise of gold in recent times.
Strong central bank buying and solid safe-haven capital flows amid growing geopolitical tensions have boosted demand for gold, up more than 25% since October.
Note
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