Shinobi - XAUUSD: The uptrend hasn't stopped yet
The world gold price rose more than 1 USD/ounce on the morning of September 4th to 1,941 USD/ounce. Gold is up more than 1.25% in the past week. because the United States Revealed some weak economic data, such as the non-agricultural employment report. Unemployment rate increased and the ISM production index decreased.
This week, some economic data was released, including the Bank of Canada's monetary policy decision, the PMI service and the US unemployment report. This is because there is very little economic data scheduled to be released this week. Analysts say investors should keep an eye on the U.S. dollar. and bond yields The US Dollar Index held its highest level in nearly 3 months above 104 points. The yield on the 10-year Treasury note, though, fell from last week's 15-year high. but still above 4%
This is despite the threat of further interest rate hikes from the Federal Reserve easing after disappointing employment numbers. But analysts note that the employment rate has not disappeared completely. According to the CME FedWatch tool, markets see the Federal Reserve as Keep interest rates unchanged in September. And there is still a 60% chance that there will be no change in November.
Some analysts and investors believe that this week the price of the precious metal will rise to 1,960 USD/ounce. Ewa Manthey, commodities strategist at ING, said it is important to keep a close eye on the US data release. It may shed more light on what the Fed is doing. Gold will remain volatile due to the impact of prolonged inflationary uncertainty on the US economy. and will be influenced by US economic data. In the next few weeks
XAUUSD
BUY 1937 - 1939
TP1: 1944
TP2: 1949
SL: 1932
This week, some economic data was released, including the Bank of Canada's monetary policy decision, the PMI service and the US unemployment report. This is because there is very little economic data scheduled to be released this week. Analysts say investors should keep an eye on the U.S. dollar. and bond yields The US Dollar Index held its highest level in nearly 3 months above 104 points. The yield on the 10-year Treasury note, though, fell from last week's 15-year high. but still above 4%
This is despite the threat of further interest rate hikes from the Federal Reserve easing after disappointing employment numbers. But analysts note that the employment rate has not disappeared completely. According to the CME FedWatch tool, markets see the Federal Reserve as Keep interest rates unchanged in September. And there is still a 60% chance that there will be no change in November.
Some analysts and investors believe that this week the price of the precious metal will rise to 1,960 USD/ounce. Ewa Manthey, commodities strategist at ING, said it is important to keep a close eye on the US data release. It may shed more light on what the Fed is doing. Gold will remain volatile due to the impact of prolonged inflationary uncertainty on the US economy. and will be influenced by US economic data. In the next few weeks
XAUUSD
BUY 1937 - 1939 TP1: 1944
TP2: 1949
SL: 1932
Comment:
ENTRY BUY
Comment:
Kitco News's latest weekly gold survey shows that more than two-thirds of retail investors expect gold prices to increase in the week ending September 8. And after weeks of caution and mixed opinions, market analysts are also optimistic about the precious metal.
Comment:
Data since the most recent policy meeting has raised hopes that the US economy is cooling, reinforcing the possibility that interest rates will not rise further and in turn supporting zero-yield assets such as Yellow.
Comment:
Craig Erlam, senior market analyst at OANDA, said that at the Fed's upcoming monetary policy meeting on September 19-20, most markets expect rates to be flat.
