28. The rising demand for gold is obvious
On Wednesday (December 27) in Asia, the Bank of Japan released a summary of the opinions of the review committee of the December monetary policy meeting, emphasizing that it is too early to raise interest rates and that the end of negative interest rates must first bring the price target within sight. The U.S. Defense Secretary confirmed that the U.S. military carried out air strikes in Iraq, which resulted in the death of at least one person. Mediterranean Shipping Company (MSC) said a container ship was attacked while transiting the Red Sea. Spot gold once approached the $2,070 mark, and then remained bullish at $2,064.
Gold prices rose, breaking out of a trading range that had been in place for much of December after weak U.S. inflation data fueled more bets on early interest rate cuts in 2024. Gold has rallied sharply in recent sessions as the PCE price index, the Fed's preferred inflation gauge, fell short of expectations.
Inflation data released after the Federal Reserve sent a dovish signal at its last meeting in 2023 raised hopes that the central bank could start cutting interest rates as early as March 2024. This view creates a strong outlook for gold, given that high interest rates drive up the opportunity cost of investing in gold. International gold is also likely to benefit from worsening global economic conditions in the coming year as major economies feel the impact of tightening monetary policies.
There is now clear upside demand for gold, so the risk of going long gold is less than going short
Please pay attention to updates for more trading signals xia
Gold prices rose, breaking out of a trading range that had been in place for much of December after weak U.S. inflation data fueled more bets on early interest rate cuts in 2024. Gold has rallied sharply in recent sessions as the PCE price index, the Fed's preferred inflation gauge, fell short of expectations.
Inflation data released after the Federal Reserve sent a dovish signal at its last meeting in 2023 raised hopes that the central bank could start cutting interest rates as early as March 2024. This view creates a strong outlook for gold, given that high interest rates drive up the opportunity cost of investing in gold. International gold is also likely to benefit from worsening global economic conditions in the coming year as major economies feel the impact of tightening monetary policies.
There is now clear upside demand for gold, so the risk of going long gold is less than going short
Please pay attention to updates for more trading signals xia
Komentar:
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Trade aktif:
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