Gold Now
Hello dear friends,
Yesterday, the gold market experienced a rather calm trading day with no significant fluctuations. The price of gold remains stable around $2033 and maintains support above $2025.
Looking at the short and medium-term trends, there is a positive outlook for gold continuing its upward trajectory. Based on recent charts, there are two main targets for investors interested in buying gold, which are $2037 and $2041.
Alongside the analysis of gold price movements, the market is also awaiting the release of the Personal Consumption Expenditures (PCE) report from the United States. This inflation data is expected to provide further insight into the future direction of interest rates from the Federal Reserve, with an anticipated increase of 0.4% per month forecasted for Thursday. Fluctuations in the PCE could impact the price of gold, especially if the actual data exceeds expectations, potentially triggering a downward price adjustment for this precious metal. However, it seems that the market still believes that gold will maintain its position above 2000/ounce, retaining its attractiveness to investors.
With expectations and continued monitoring of market developments and influencing factors, investors and those interested in gold will continue to observe and respond appropriately to the latest information and market trends, in order to make informed investment decisions.
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