XAUUSD - Is the 2400 USD target possible?
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Hello dear friends! Yesterday, gold faced some challenges in the context of a stronger US dollar. However, it still remains a focal point of interest for international investors.
After dropping to $2,330 per ounce, gold quickly rebounded within just 20 minutes, climbing back to around its previous price of $2,345 per ounce and stabilizing at around $2,331 at the time of writing.
Investors seem unsurprised by the much stronger US dollar and the possibility of a delay by the Fed. Gold continues to be a safe haven amidst high inflation and the instability and turmoil of the global economy.
It seems that the demand for gold will likely continue to rise unless inflation exceeds expectations. A more stable report could push the price of gold up to $2,400.
After dropping to $2,330 per ounce, gold quickly rebounded within just 20 minutes, climbing back to around its previous price of $2,345 per ounce and stabilizing at around $2,331 at the time of writing.
Investors seem unsurprised by the much stronger US dollar and the possibility of a delay by the Fed. Gold continues to be a safe haven amidst high inflation and the instability and turmoil of the global economy.
It seems that the demand for gold will likely continue to rise unless inflation exceeds expectations. A more stable report could push the price of gold up to $2,400.
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