Gold is moving above $2,200...in this case (read-caption)
Updated
Gold is moving above $2,200...in this case, it will head towards $2,300
Gold prices did not witness noticeable movements during these moments of trading today, Thursday, after they ended yesterday’s trading at record levels, with investors looking forward to more US economic data to obtain evidence of the course of monetary policy.
Ilya Spivak, head of global macro at Tastylive, said: “The Fed has signaled it wants to lower interest rates, and there are geopolitical risk concerns that remain in the markets around the wars going on right now, whether in Ukraine or in the Middle East, which is... Supports gold.
Spivak added: “Gold prices are range-bound most of the time this month, and a break above the current resistance level at $2,225 per ounce could send prices heading towards the $2,300 level.”
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Gold prices did not witness noticeable movements during these moments of trading today, Thursday, after they ended yesterday’s trading at record levels, with investors looking forward to more US economic data to obtain evidence of the course of monetary policy.
Ilya Spivak, head of global macro at Tastylive, said: “The Fed has signaled it wants to lower interest rates, and there are geopolitical risk concerns that remain in the markets around the wars going on right now, whether in Ukraine or in the Middle East, which is... Supports gold.
Spivak added: “Gold prices are range-bound most of the time this month, and a break above the current resistance level at $2,225 per ounce could send prices heading towards the $2,300 level.”
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US Federal Reserve Member Waller comments on monetary policy and economic conditionsSpeaking on Wednesday evening, US Federal Reserve Bank member Christopher Waller reported that recent weak inflation data supports the Federal Open Market Committee's reluctance to lower its short-term interest rate target.
🔸In addition to this, Waller's statements also included the following:
-There is no rush to cut interest rates.
-The US Federal Reserve may need to maintain its current interest rate target for longer than expected.
-I need to see more progress in slowing inflation before I support a rate cut.
-It takes at least a few months of data to confirm that inflation is heading towards 2%.
-The Federal Reserve is still expected to cut interest rates later this year.
-The strength of the economy gives the US Federal Reserve room to evaluate the data.
-Data suggest interest rates could be cut lower this year.
-The economy is growing at a healthy pace.
-Despite the progress made on inflation so far, recent data has been disappointing.
-Recent inflation data has shown mixed signals on the jobs side.
-The US Federal Reserve has made a lot of progress in reducing inflation.
-Wage pressures have eased.
-Productivity will continue to record uncertain readings at the current strong pace.
-The strength of the economy supported the US Federal Reserve's dovish approach.
-The dollar remains the dominant currency to date.
-The economy does not give the US Federal Reserve an excuse to continue deep interest rate cuts.
Note
-Supply chain problems declined in light of the positive inflation development in the previous period.-The Port of Baltimore disaster is unlikely to cause major economic disruptions.
-A batch of stronger-than-expected economic and inflation data so far this year calls for a postponement of the federal funds rate cut.
-I see the economy's GDP and labor market showing continued strength, while progress in lowering inflation has slowed.
-Because of these signals, I do not see any reason to rush into taking the step of starting to reduce monetary policy.
-Inflation-adjusted interest rates appear to be back on the rise since Christmas; There are many factors that go into price differences.
-I would like to see up to five months of good inflation data, and this has only appeared in two months so far; The question is, how much data do you need.
-The Fed is reacting to the data and the market is not overreacting.
-We still have two more inflation readings before the Federal Reserve meeting in May.
-There is no evidence that quantitative tightening has caused interest rates to rise, and the balance sheet has a greater impact during stress.
-The unemployment rate does not need to remain at 3.7% for the US Federal Reserve to achieve a smooth decline; There is no need to panic if unemployment rates rise.
see the results gold market suddenly jump on 2210 this is the war market and this will go more up if the break high supply zone 2222 waiting for XAUUSD high more and more
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gold has news (2236) higher high create, and gold is positive workthanks for your love and support my trading view family.
Trade closed: target reached
good news guys gold hitting 2267 my target reached thank for your love and support my trading view family
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