Gold increased very strongly, exceeding 2,400 USD
Gold prices in recent sessions have fluctuated up and down continuously and are difficult to predict. One day it dropped deeply, the next day it increased dramatically, making investors dizzy. In an unfavorable economic context, gold prices continue to attract investors as the central bank's purchasing power has not stopped.
Officials of the US Federal Reserve (FED) noted that inflation is still high and the FED will not be able to reduce interest rates. This will have a certain impact on the trend of gold prices in the next few days.
Considering that expectations for interest rate cuts from the FED are decreasing, profit-taking activities will put pressure on the market, but it is unlikely that world gold prices will fall sharply.
According to commodity investor Dennis Gartman, this precious metal still has a lot of upside momentum. Gartman predicts that gold prices may increase to $3,000/ounce in the next few years. He said that the current environment is similar, if not worse, than the 1970s. At that time, gold prices increased despite the Fed being forced to raise interest rates by double digits to "cool down" inflation.
Officials of the US Federal Reserve (FED) noted that inflation is still high and the FED will not be able to reduce interest rates. This will have a certain impact on the trend of gold prices in the next few days.
Considering that expectations for interest rate cuts from the FED are decreasing, profit-taking activities will put pressure on the market, but it is unlikely that world gold prices will fall sharply.
According to commodity investor Dennis Gartman, this precious metal still has a lot of upside momentum. Gartman predicts that gold prices may increase to $3,000/ounce in the next few years. He said that the current environment is similar, if not worse, than the 1970s. At that time, gold prices increased despite the Fed being forced to raise interest rates by double digits to "cool down" inflation.
Comment:
Comment:
🔹The World Bank warns of the repercussions of tensions in the Middle East and their impact on initiatives to address inflation, delaying interest cuts and increasing food insecurity.
Comment:
If XAUUSD continues to rise, the price could retest the resistance at $2,400 per troy ounce.
✅ However, failure to hold above $2,300 per troy ounce could indicate a return to $2,200 per troy ounce.
✅ However, failure to hold above $2,300 per troy ounce could indicate a return to $2,200 per troy ounce.
Comment:
There is still plenty of time before the official preliminary estimates of GDP are released by the US Census Bureau, and the Federal Reserve Bank of Atlanta had expected growth in the first quarter of the year to reach 2.7%, and yesterday’s estimated reading showed that the US The United States recorded growth of about 1.6% during the first quarter.
Comment:
Early on the morning of May 2, there will be the FED's interest rate decision, accompanied by the FOMC meeting.
According to CME FED Watch's forecast rate, the possibility of remaining unchanged is high.
This is not new, but what is important is the content of the meeting, what the Fed will say.
So currently, before the FOMC takes place, DXY will only sideways the H4 amplitude. The support zone 105.4 and 105.5 will still be a good support
According to CME FED Watch's forecast rate, the possibility of remaining unchanged is high.
This is not new, but what is important is the content of the meeting, what the Fed will say.
So currently, before the FOMC takes place, DXY will only sideways the H4 amplitude. The support zone 105.4 and 105.5 will still be a good support
✨Please Join our community today at the following link: t.me/+s_bsSOYIFCtlNDQ9
✅ Get trading signals with up to 80% win rate.
✅ Enjoy high-accuracy signals for free, elevating your trades to new heights.
✅ Get trading signals with up to 80% win rate.
✅ Enjoy high-accuracy signals for free, elevating your trades to new heights.
Related Ideas
