During the initial week of 2024, global gold prices experienced minor fluctuations as the market endeavored to recalibrate expectations regarding the potential timing of interest rate adjustments by the US Federal Reserve (Fed), taking into account economic data.
According to the most recent weekly gold survey by Kitco News, half of the retail investors engaged in online Main Street polls anticipate an upturn in gold prices for the week, while the remaining 50% foresee a decline.
Experts highlight that the forthcoming release of the December Consumer Price Index (CPI) report on Thursday poses the most significant risk to gold prices during this week. A sustained decrease in inflation could once again instill optimism in the market regarding the timing of rate cuts, thereby benefiting gold. Conversely, a failure of inflation to rise as anticipated by the market could potentially trigger a fresh sell-off in this precious metal.
According to the most recent weekly gold survey by Kitco News, half of the retail investors engaged in online Main Street polls anticipate an upturn in gold prices for the week, while the remaining 50% foresee a decline.
Experts highlight that the forthcoming release of the December Consumer Price Index (CPI) report on Thursday poses the most significant risk to gold prices during this week. A sustained decrease in inflation could once again instill optimism in the market regarding the timing of rate cuts, thereby benefiting gold. Conversely, a failure of inflation to rise as anticipated by the market could potentially trigger a fresh sell-off in this precious metal.
Komentar:
Gold prices had strong fluctuations over the weekend, however this fluctuation was two-way and did not highlight the direction of the price in the short term, currently it is still stuck around the 2040 threshold. You continue to observe. At the peak and bottom area of last weekend's session, the direction of the breakout can reveal the direction of the price in the short term. Currently, we still have a portion of last week's remaining sell orders. You can continue to hold and target around the psychological barrier of 2000.
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What do you think about Gold today?
Komentar:
Walsh Trading's Co-Head of Commercial Hedging Sean Lusk is optimistic about gold, saying the precious metal remains supported by concerns surrounding conflict in the Middle East and seasonal factors. Lusk predicts that during the seasonal growth period from now until Valentine's Day, gold prices will reach 2,175 USD/ounce.
Komentar:
TP: 2037
SL: 2022