XAUUSD : Gold is likely to continue rising during the week
Updated
World gold increased slightly after falling for two consecutive weeks
World gold prices fell for the second consecutive week with the closing price just slightly above the threshold of 2,300 USD at the end of last week. Set in the context of relatively conservative fluctuations after important news, notably the Fed's monetary policy statement in mid-week and US employment data released on Friday.
The decline in gold surprised many traders, as they expected a stronger reaction in the context of a sharp drop in US government bond yields after Fed Chairman Jerome Powell revealed the possibility of monetary easing in the coming months. future, despite concerns about rising inflation. This somewhat "dovish" view has boosted market psychology, directing capital flows to risky assets instead of haven assets like gold.
World gold prices fell for the second consecutive week with the closing price just slightly above the threshold of 2,300 USD at the end of last week. Set in the context of relatively conservative fluctuations after important news, notably the Fed's monetary policy statement in mid-week and US employment data released on Friday.
The decline in gold surprised many traders, as they expected a stronger reaction in the context of a sharp drop in US government bond yields after Fed Chairman Jerome Powell revealed the possibility of monetary easing in the coming months. future, despite concerns about rising inflation. This somewhat "dovish" view has boosted market psychology, directing capital flows to risky assets instead of haven assets like gold.
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