Gold prices increase but not reliablyThe gold price today seems to have remained unchanged from earlier this morning, mainly ranging between 2021 - 2022 USD.
Although the US GDP growth has exceeded expectations and core orders have increased, negative factors such as rising unemployment claims and inventory levels, along with reduced personal consumption, will pose challenges to the US economy. As a result, some investors have returned to buying gold. However, there are still many investors who remain on the sidelines, observing the market.
Inflation in Europe has decreased to 2.9%, prompting the European Central Bank to maintain interest rates. The European Central Bank predicts that inflation in the region will gradually decrease to around 2.7% in 2024.
Considering the above information, it will be difficult for the gold price to rise significantly given the positive economic growth in the US. This indicates that the world's largest economy will not experience a recession and will achieve the desired soft landing as expected by its central bank.
