Gold price increased sharply, reaching 2650 USDGold prices made an impressive reversal today, rising more than $25 to $2,635, after six consecutive sessions in the red. The recovery came on Thursday, as investors began to adjust their strategies based on a series of important economic data from the US.
The CPI report showed signs of cooling inflation, while employment data reflected a weakening labor market. These signals have reinforced the belief that the Fed is on the right track in adjusting monetary policy. This is the factor that helped gold prices rebound, as investors saw a less tense economic environment, supporting safe havens like gold.
With positive signals from the economy and confidence in the Fed's policies, gold is returning to an upward trend, opening up attractive opportunities for investors.
