Get started

Forexsignal

Stand still and wait for news, CPI news trading strategy todayWorld gold prices were relatively stable with spot gold down 5.3 USD to 2,023.5 USD/ounce. Gold futures last traded at 2,029.3 USD/ounce, down 3.7 USD compared to yesterday morning. World gold decreased slightly in the mid-week trading session as investors were waiting for US inflation data to gain more clarity on the US Federal Reserve's (Fed) interest rate roadmap this year. RJO Futures senior market strategist Bob Haberkorn said lower-than-expected inflation data would give the Fed more reason to cut interest rates this year, which would push gold prices higher. US consumer price index data will be released on Thursday. According to a Reuters poll, economists predicted annual inflation would come in at 3.2% in December, but said core inflation could fall to 3.8%, the lowest since December. mid-2021. A report from the New York Fed revealed that consumers expect inflation to decline, while Fed Governor Michelle Bowman said on Monday that the US Central Bank's monetary policy appeared to be "adequate". limit".
OANDA:XAUUSDLong
by FalCol_TradingMaster
XAUUSD : Gold prices are continuing their downward streakGold prices were gloomy at the beginning of the new year, following a strong recovery in the USD as traders reduced bets that the Fed could cut interest rates as soon as March. Stronger-than-expected nonfarm payrolls data on Friday points to labor market resilience — which gives the Fed more room to keep interest rates higher for longer. Spot gold price decreased 0.5% to 2,035.69 USD/ounce, while gold futures price due in February decreased 0.4% to 2,042.25 USD/ounce at . Both types of gold fell 0.9% in the first week of 2024. The market is now fully focused on US CPI data for December, expected this Thursday. The data comes on the heels of the payrolls report, which is expected to show inflation rising from the previous month. CME Fedwatch shows traders have scaled back their expectations for a March cut. Traders are now pricing in about a 63% chance of a 25 basis point cut in March. Higher interest rates for longer could be greater short-term pressure on gold. This could drive up the opportunity cost of investing in gold.
OANDA:XAUUSDLong
by SantaTradeGold
Gold is moving sideways after loweringAccording to some analysts, the market is still in a state of tension as investors try to predict the next move of the US Federal Reserve (Fed). Markets are pricing in a 68% chance of the first interest rate cut at the March monetary policy meeting. The stronger USD and uncertainty about the timing of the Fed's interest rate cut negatively impacted gold prices. Meanwhile, the jobs report released at the weekend showed that the labor market was better than forecast. This means the Fed can delay the first interest rate cut. Meanwhile, investors are expecting a cut soon. Walsh Trading's Co-Head of Commercial Hedging Sean Lusk is optimistic about gold, saying the precious metal remains supported by concerns surrounding conflict in the Middle East and seasonal factors. Lusk predicts that during the seasonal growth period from now until Valentine's Day, gold prices will reach 2,175 USD/ounce.
OANDA:XAUUSDShort
by TrategySherpa