During the January 3 session, world gold prices decreased slightly mainly due to the increase in the USD. The latest FOMC meeting minutes show that the Fed will not rush to loosen interest rates, prolonging gold's decline. However, gold's initial increase will be maintained when the US interest rate cut plan is expected to be carried out this year and geopolitical tensions increase.
Tomorrow, the market will receive the US employment report, this data can create fluctuations in gold prices as this report will help the market evaluate the economy. Currently, gold is recovering slightly to $2,042.
The SPDR Gold Shares fund on January 3 continued the decline from yesterday when the fund's holdings slid to 874.21 tons.
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🔝 XAUUSD : Trading plan January 04, 2024
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