"Hello everyone, what do you predict today's gold price will be - up or down? Let's explore XAUUSD today!
Gold prices today are almost unchanged, fluctuating around 2022 USD. With resistance at 2035 USD and a position below the 34 and 89 EMAs, it is clear that the downtrend is still continuing, although there are signs of cooling down.
Regarding news affecting gold prices, investors are waiting for important economic reports from the US this week, including the PMI report, fourth quarter GDP data and personal consumption expenditures. This information will provide new signs about the Fed's interest rate policy. According to CME FedWatch Tool, the possibility of the Fed cutting interest rates in March decreased from over 70% to 43.5%, weakening the chance of a strong increase in gold prices.
Karina predicts that gold prices will likely continue to decline, but remain at a defensive level from 2005 to 2008 USD. Gold still has a chance to reverse if it holds above this support level.
How about you? What do you expect for gold prices in the near future? Please share your opinion below in the comments for Karina to discuss!"
Gold prices today are almost unchanged, fluctuating around 2022 USD. With resistance at 2035 USD and a position below the 34 and 89 EMAs, it is clear that the downtrend is still continuing, although there are signs of cooling down.
Regarding news affecting gold prices, investors are waiting for important economic reports from the US this week, including the PMI report, fourth quarter GDP data and personal consumption expenditures. This information will provide new signs about the Fed's interest rate policy. According to CME FedWatch Tool, the possibility of the Fed cutting interest rates in March decreased from over 70% to 43.5%, weakening the chance of a strong increase in gold prices.
Karina predicts that gold prices will likely continue to decline, but remain at a defensive level from 2005 to 2008 USD. Gold still has a chance to reverse if it holds above this support level.
How about you? What do you expect for gold prices in the near future? Please share your opinion below in the comments for Karina to discuss!"
