Gold and the direction of moving this week
Updated
Gold price today is trading around US $ 2022 and is worth a significant recovery level since the last time it decreased to 2000 USD.
From the chart, precious metals have escaped from the discount channel and conducted an increase, the price can recover up to 2037 USD and higher may be at $ 2055.
However, the market information is still less optimistic about the possibility of the world gold price this week when gold continues to cope with the pressure of reduced from the possibility of the US Federal Reserve (Fed) holding interest rates higher than long longer than long. than. Most of the US economic data published in the past week showed that growth was still stable and inflation fell slower than forecast. Therefore, the market said that it was not until June that the Fed started to cut interest rates and the number of interest rates this year may not exceed 3 times.
The new expectation of the interest rate of US Treasury bond yields and the USD exchange rate maintain an increase trend, putting pressure on gold.
From the chart, precious metals have escaped from the discount channel and conducted an increase, the price can recover up to 2037 USD and higher may be at $ 2055.
However, the market information is still less optimistic about the possibility of the world gold price this week when gold continues to cope with the pressure of reduced from the possibility of the US Federal Reserve (Fed) holding interest rates higher than long longer than long. than. Most of the US economic data published in the past week showed that growth was still stable and inflation fell slower than forecast. Therefore, the market said that it was not until June that the Fed started to cut interest rates and the number of interest rates this year may not exceed 3 times.
The new expectation of the interest rate of US Treasury bond yields and the USD exchange rate maintain an increase trend, putting pressure on gold.
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