XAU continues to conquer new peaks
Updated
World gold prices today, April 4, continued their upward momentum and conquered new record levels as Fed Chairman Jerome Powell reiterated that recent data shows a solid job market coupled with "persistent" inflation. will not significantly change the overall picture of economic policy this year.
Previously, the report published on April 3 (US time) showed that the US labor market continued to operate strongly. Specifically, the US private sector created 184,000 jobs last month, a sharp increase compared to experts' forecast of 148,000. This is the best job growth since August 2023.
Along with the strong increase in employment, the report also noted that wages posted solid gains last month, adding to concerns about the ongoing threat of inflation. Wages for long-term workers rose 5.1%, the first increase in months. Meanwhile, wages of short-term workers increased by 10%, the second consecutive increase.
However, Mr. Powell and Fed officials largely agree that lower policy rates will be appropriate “at some point this year.” Economists still expect the first rate cuts to be made at the Fed's June 11-12 policy meeting, even with strong economic data.
Previously, the report published on April 3 (US time) showed that the US labor market continued to operate strongly. Specifically, the US private sector created 184,000 jobs last month, a sharp increase compared to experts' forecast of 148,000. This is the best job growth since August 2023.
Along with the strong increase in employment, the report also noted that wages posted solid gains last month, adding to concerns about the ongoing threat of inflation. Wages for long-term workers rose 5.1%, the first increase in months. Meanwhile, wages of short-term workers increased by 10%, the second consecutive increase.
However, Mr. Powell and Fed officials largely agree that lower policy rates will be appropriate “at some point this year.” Economists still expect the first rate cuts to be made at the Fed's June 11-12 policy meeting, even with strong economic data.
Note
🪙 Buy Limit 2288 - 2290 🔝🔝🔝✔️ TP1 : 2295
✔️ TP2 : 2300
✔️ TP3 : 2305
❌ SL : 2280
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