XAUUSD : Gold is recovering after a sharp decline.
Updated
Waiting for interest rate decisions of major banks this week.
Gold steadies as the week begins, major central bank interest rate decisions and the upcoming US core PCE index could create volatility for the USD and gold.
World gold price is currently increasing slightly to $2,030 after a sharp decline last week. The main barrier to gold's current increase is still the USD and US government bond yields are still high. In the long term, gold remains the favored asset as geopolitical tensions escalate and central banks reduce interest rates.
This week, the market will receive the US manufacturing PMI report on Tuesday, the core PCE index on Friday, and the interest rate decisions of the ECB and BoJ. These data points will help shape the trend of USD and gold in the near future.
Gold steadies as the week begins, major central bank interest rate decisions and the upcoming US core PCE index could create volatility for the USD and gold.
World gold price is currently increasing slightly to $2,030 after a sharp decline last week. The main barrier to gold's current increase is still the USD and US government bond yields are still high. In the long term, gold remains the favored asset as geopolitical tensions escalate and central banks reduce interest rates.
This week, the market will receive the US manufacturing PMI report on Tuesday, the core PCE index on Friday, and the interest rate decisions of the ECB and BoJ. These data points will help shape the trend of USD and gold in the near future.
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