02/06 - Gold continues its uptrend
Updated
Gold prices have been steady around their weekly high and increasing slowly.
Investors are optimistic about the US NFP report and lack of major events that might affect gold prices.
Recent Fed predictions and hope for a US debt-ceiling deal are motivating buyers to invest in gold.
The price may reach $1,992 and the area around $1,989-1990 may further motivate buyers.
If the price stays above $1,992 the $2,000 mark will be a significant obstacle for sellers to overcome.
I'm considering selling gold with the nearest target 1989-1992
What do you think gold on Friday will look like? Please share with me
Investors are optimistic about the US NFP report and lack of major events that might affect gold prices.
Recent Fed predictions and hope for a US debt-ceiling deal are motivating buyers to invest in gold.
The price may reach $1,992 and the area around $1,989-1990 may further motivate buyers.
If the price stays above $1,992 the $2,000 mark will be a significant obstacle for sellers to overcome.
I'm considering selling gold with the nearest target 1989-1992
What do you think gold on Friday will look like? Please share with me
Note
Senate passes debt ceiling bill until 2025Note
The US economy shows signs of cooling down, recruitment activities, and inflation decelerateNote
The recent approval of the bipartisan legislation to increase the debt limit by Congress has been applauded by the US President Joe Biden. This move is expected to prevent the federal government from defaulting on its debt, which is currently at $31.4 trillion.Note
The bill to increase the debt ceiling and limit government spending for two years, which was approved by the House, has been passed by the Senate on Thursday. The legislation is now headed to President Joe Biden's desk.Note
The US Congress has passed a bill to suspend the debt ceiling and prevent the first-ever default. The Senate and House of Representatives supported the bill with bipartisan agreement. Failure to pass the bill would have resulted in the US Treasury being unable to make all payments on June 5. The new law suspends the federal borrowing limit until January 1, 2025. President Joe Biden must sign the bill before the Monday deadline.Note
The Senate has approved a bipartisan bill to raise the US government's debt ceiling to $31.4 trillion. The bill will now be sent to President Joe Biden for his signature.Note
The US Treasury bond rates have remained stable after the Senate approved a bill regarding the debt ceiling. Investors are now eagerly waiting for the release of important job data.Note
The value of the US dollar is decreasing following significant announcements made by the Federal Reserve. At the moment, it is awaiting further data to confirm its next move.Note
Biden signed the law raising the debt ceiling.
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