Gold managed to trade higher on Tuesday, maintaining its bullish run ahead of key US growth and PCE inflation data. Subdued gold volatility may soon lead to consolidation
Gold has performed well considering markets have dialed back aggressive rate cuts for 2024. At the end of last year, 2024 was shaping up to be a strong year for gold as rate cuts were expected to arrive as early as Q1, with the new year expected to see around six separate 25 basis point cuts from the Fed.
However, markets have realized the error in their ways and have been forced to meet the Fed around their initial forecast of three rate cuts for the year. Thus, yields have actually risen and yet gold has held up rather well.
Gold appears all too happy to track alongside former trendline support, now resistance with the blue 50-day simple moving average capping upside for now.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Gold Price Forecast: US Inflation Data to Guide Trend; XAU/USD Levels AheadThis article focuses on gold’s fundamental and technical outlook, pinpointing significant catalysts for volatility and essential price thresholds that could act as support or resistance in the coming days.
Leer más »
Gold (XAU/USD) Price Struggles for Direction, Silver (XAG/USD) Looks Boxed InThe weekly gold candle shows a restrictive range of just $25 as the precious metal looks for a driver to help break its current lethargy
Leer más »
Gold Forecast: XAU/USD looks set for weekly gains despite lack of momentumGold (XAU/USD) fluctuated in a relatively narrow channel as it failed to benefit from the broad-based selling pressure surrounding the US Dollar (USD) this week.
Leer más »
Gold (XAU/USD) Picking Up a Small Bid as Oversold Conditions Begin to ClearGold is picking up a small bid around $2,000/oz. after mixed US economic data pushes the precious metal one way and then another
Leer más »
Gold Price Forecast: US Inflation to Dictate Direction, Volatility Looms AheadThis article discusses the fundamental and technical outlook for gold prices ahead of next week's key U.S. inflation data, examining possible scenarios that could develop in the near term.
Leer más »
Gold Price Forecast: Confluence Resistance Stifles Bulls, Focus Shifts to US PCEThis article evaluates the short-term outlook for gold prices, examining various scenarios that may unfold later in the week following the release of U.S. core PCE data.
Leer más »