Gold tends to continue to increase strongly
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Overall, XAUUSD continues to grow at high levels, with trading activity across most timeframes, suggesting a very positive bullish outlook. So do you wonder why gold increased so strongly?
About impact news on April 10:
-Fed meeting minutes and consumer price index data will be published on April 10.
Conclusion about gold and trends:
-Gold absolutely increased in price as a second asset to be used in times of geopolitical crisis. But! Rising interest rates tend to reduce the attractiveness of this non-yielding asset.
CME Group data shows that the market believes there is a 53% chance of the Fed lowering interest rates in June 2024.
With XAUUSD continuing to trade steadily at these highs, and using strong support around the breakout and 34.89 EMA for further upside. Then the current expected Price target is 2380 and then 2420 USD
Overall, XAUUSD continues to grow at high levels, with trading activity across most timeframes, suggesting a very positive bullish outlook. So do you wonder why gold increased so strongly?
About impact news on April 10:
-Fed meeting minutes and consumer price index data will be published on April 10.
Conclusion about gold and trends:
-Gold absolutely increased in price as a second asset to be used in times of geopolitical crisis. But! Rising interest rates tend to reduce the attractiveness of this non-yielding asset.
CME Group data shows that the market believes there is a 53% chance of the Fed lowering interest rates in June 2024.
With XAUUSD continuing to trade steadily at these highs, and using strong support around the breakout and 34.89 EMA for further upside. Then the current expected Price target is 2380 and then 2420 USD
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