During the January 2 session, market expectations of the Fed cutting interest rates and geopolitical tensions in the Middle East continued to increase the safe-haven appeal of gold. However, the increase in the DXY index and government bond yields of all terms (with the 10-year yield increasing to 3.93%) may restrain the current upward momentum of precious metals. As of now, gold price is around $2061.24.
In the near future, the market's focus will be on the release of the FOMC meeting minutes today, the US unemployment report on Thursday and the NFP report on Friday.
Gold today will fluctuate in the 2058 to 2070 range ahead of the FOMC meeting.
Comment
🔝 XAUUSD : Trading plan January 03, 2024
🪙 We have 2 levels to have a good entry for the BUY signal :
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