Shinobi - XAUUSD: Thanks to the recession, gold will make a new
World gold prices fell with spot gold down 8.4 USD to 1,936.2 USD/ounce. December gold futures last traded at $1,970 per ounce, down $6.1 from dawn the day before.
World gold prices in the first session of the week hit a 4-week low after US Federal Reserve Governor Michelle Bowman said that further interest rate hikes are needed to bring inflation down to the 2% target. Although recent data suggest inflation is slowing, Bowman says more evidence is needed. Additionally, Fed officials Raphael Bostic and Austan Goolsbee analyzed recent employment data and said the labor market is improving, which may prompt the Fed to reconsider how long it should maintain interest rates. current high capacity. The Fed's "hawkish" comments discouraged bulls in the metals market.
The gold market is likely to continue to trade around $1,950 an ounce for the rest of the summer as solid economic growth supports growing expectations that the Federal Reserve, Commerzbank experts said. The US state (Fed) will maintain a hawkish trend until the end of the year.
XAUUSD
BUY 1932 - 1930
TP1: 1935
TP2: 1940
SL: 1926
World gold prices in the first session of the week hit a 4-week low after US Federal Reserve Governor Michelle Bowman said that further interest rate hikes are needed to bring inflation down to the 2% target. Although recent data suggest inflation is slowing, Bowman says more evidence is needed. Additionally, Fed officials Raphael Bostic and Austan Goolsbee analyzed recent employment data and said the labor market is improving, which may prompt the Fed to reconsider how long it should maintain interest rates. current high capacity. The Fed's "hawkish" comments discouraged bulls in the metals market.
The gold market is likely to continue to trade around $1,950 an ounce for the rest of the summer as solid economic growth supports growing expectations that the Federal Reserve, Commerzbank experts said. The US state (Fed) will maintain a hawkish trend until the end of the year.
XAUUSD
BUY 1932 - 1930 TP1: 1935
TP2: 1940
SL: 1926
Comment:
HIT TP1 . +40PIPS
Comment:
Commerzbank forecasts gold will trade around $2,000 an ounce by year-end, with prices averaging around $2,050 an ounce in the first quarter of 2024. Gold will surpass all-time highs as the Fed rolls out cuts interest rates by the middle of next year.
Comment:
The future of the dollar and gold will likely be determined by a number of reports next week, including the March nonfarm payrolls report this Friday. Despite growing recession fears, the US labor market remains resilient as the number of jobs created in March rose relatively in line with expectations.
Comment:
Due to the US in the Easter holiday, limited investors and traders will have to wait until the market is open to cooperate. Photo is on the same page. Although the commodity market is closed, the market currency is still active. According to Director of Currency Strategy Adam Button at Forexlive.com, in market conditions with poor account calculations, the USD has moved higher in response to personal reports, which is also what you are feeling. .
