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The gold market increased slightly compared to the first day of While the current rally became pushed with the aid of using bodily factors, strategists say cash flows will gas the following rally. They notice that this modification is beginning to appear, predicting that gold fees may want to attain 2,650 USD/ounce with the aid of using the fourth region of 2024. | The XAU fee fell to its lowest in extra than every week nowadays as investors watch for extra US financial records and feedback from US Federal Reserve (FED) officers this week for similarly action. extra readability at the timeline for hobby fee cuts. Markets see a extra than 90% danger the Fed will reduce hobby fees in September, down from a preceding forecast of 98%. Senior marketplace analyst at FxPro Alex Kuptsikevich stated that the simultaneous decline withinside the gold and US inventory markets lately isn't always a very good omen for this valuable metal.
TVC:GOLD
by TrategySherpa
XAUUSD : Gold returns to create upward momentumWorld gold prices tend to recover after falling in the previous session, losing the mark of 2,400 USD/ounce right after Joe Biden announced he would not run for the next US presidential election. Previously, analysts predicted that after a sharp decline from a peak of 2,482 USD/ounce, gold could witness another sharp decline at any time, when the overbought volume is dominating, especially in if it falls below the psychological mark of 2,400 USD/ounce. Gold can only stabilize or reverse the situation, when upcoming economic data will benefit this precious metal. In particular, the US June CPI - announced this weekend is expected to continue to decrease, which supports gold prices.
OANDA:XAUUSD
by SantaTradeGold
Pay attention to the core personal consumption expenditure indexThe latest Kitco News survey shows that Wall Street analysts expressed cautious views on gold prices this week. Adrian Day, president of Adrian Day Asset Management, believes that gold prices will move sideways in the short term. However, information related to the possibility of the US Federal Reserve (Fed) starting a cycle of interest rate cuts can cause gold to increase. Currently, investors are paying attention to the upcoming core personal consumption expenditure index (PCE). This is the index used as the Fed's preferred measure of inflation. According to CME's FedWatch tool, more than 90% of the market thinks the Fed's interest rate cut is likely to happen later this summer. Darin Newsom, senior market analyst at Barchart, said that gold prices will continue to decline. According to this expert, through the weekly price chart, gold is still in a downtrend in the medium term. Last week, gold prices fell, ending a streak of 3 consecutive weeks of increases, which is completely consistent with the usual technical pattern.
OANDA:XAUUSD
by TrategySherpa
World gold recovered slightly and is fluctuating around 2406World gold prices tend to recover after plunging in the last trading session of last week. While investors are waiting for important reports at the end of the week, experts predict that the gold market may stabilize at the beginning of the week and will witness fluctuations after the inflation report. However, many opinions believe that the June core personal consumption expenditure index report may not create large price fluctuations. Although gold is likely to decline in the short term, some experts say that will not affect the medium-term prospects of this precious metal. Accordingly, optimistic opinions are that the decline will not last long and gold is still strongly supported by interest rate expectations, geopolitical situation along with uncertainties surrounding the elections.
TVC:GOLD
by NicoTradingMaster
XAUUSD : Gold is recovering after a sharp declineWorld gold prices tend to recover after plunging in the last trading session of last week. While investors are waiting for important reports at the end of the week, experts predict that the gold market may stabilize at the beginning of the week and will witness fluctuations after the inflation report. However, many opinions believe that the June core personal consumption expenditure index report may not create large price fluctuations. Although gold is likely to decline in the short term, some experts say that will not affect the medium-term prospects of this precious metal. Accordingly, optimistic opinions are that the decline will not last long and gold is still strongly supported by interest rate expectations, geopolitical situation along with uncertainties surrounding the elections.
OANDA:XAUUSD
by SantaTradeGold