XAUUSD - Gold continues to fall deeply, the moves weaken gold
World gold price continues to decrease by 15 USD/ounce, down to 2,020 USD/ounce. This is the third consecutive day of decline for the precious metal since reaching a record high at the beginning of the week
The market waits for the US to release non-farm payroll data this weekend. The jobs report could affect the US interest rate outlook. Gold began to increase strongly when the market expected the US Federal Reserve (Fed) to cut interest rates as early as March. According to CME FedWatch Tool, markets forecast a 50% chance that the Fed will cut interest rates. rates in the first quarter of 2024. TD Securities experts said that market expectations for interest rate cuts may be premature and warned that gold's rally has exhausted itself.
The market waits for the US to release non-farm payroll data this weekend. The jobs report could affect the US interest rate outlook. Gold began to increase strongly when the market expected the US Federal Reserve (Fed) to cut interest rates as early as March. According to CME FedWatch Tool, markets forecast a 50% chance that the Fed will cut interest rates. rates in the first quarter of 2024. TD Securities experts said that market expectations for interest rate cuts may be premature and warned that gold's rally has exhausted itself.
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