💡 XAUUSD: Waiting for CPI
Updated
Gold prices increased in the first trading session of the day in the US. According to reports in the US, the number of jobs in the non-agricultural sector increased by 275,000 units in February 2024. The US unemployment rate increased to 3.9%.
The market received the comments of Mr. Jerome Powell, Chairman of the Federal Reserve (Fed), positively. Experts predict that the Fed is ready to cut interest rates and the timing could be in the middle of this year.
Upcoming inflation data will attract the market's attention because this is important data to assess the timing of the Fed's interest rate cuts.
During the week, markets will monitor retail sales reports and weekly unemployment claims, as well as US manufacturing data.
The market received the comments of Mr. Jerome Powell, Chairman of the Federal Reserve (Fed), positively. Experts predict that the Fed is ready to cut interest rates and the timing could be in the middle of this year.
Upcoming inflation data will attract the market's attention because this is important data to assess the timing of the Fed's interest rate cuts.
During the week, markets will monitor retail sales reports and weekly unemployment claims, as well as US manufacturing data.
Note
SPDR Gold Trust GLD, the world's largest gold exchange-traded fund, said its gold holdings fell to 815.13 tons on March 8.
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