XAU price increased due to many reasons
Updated
The world price of XAU last week increased beyond 2,400 USD in the context of many price increasing catalysts
An important catalyst driving gold prices up is the recent Consumer Price Index (CPI) report, which showed that inflation decreased slightly in April, lower than economists' forecasts.
The data fueled market optimism that the US Federal Reserve (Fed) could adopt a more accommodative stance, potentially making interest rate cuts sooner and larger than expected.
The combination of high inflation, massive debt issuance and rapid money printing by central banks is pushing out other market participants and commodities.
An important catalyst driving gold prices up is the recent Consumer Price Index (CPI) report, which showed that inflation decreased slightly in April, lower than economists' forecasts.
The data fueled market optimism that the US Federal Reserve (Fed) could adopt a more accommodative stance, potentially making interest rate cuts sooner and larger than expected.
The combination of high inflation, massive debt issuance and rapid money printing by central banks is pushing out other market participants and commodities.
Note
SELL XAU 2434 - 2436TP1: 2430
TP2: 2420
SL: 2440
Note
HIT FULL TP + 160 pips
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