XAU detained after receiving news of Durable Goods Orders m/m
The world gold market is quiet as investors are waiting for important reports this week. It is expected that the personal consumption expenditure index (PCE) report, which is expected to influence the interest rate direction of the US Federal Reserve (Fed), will be published today.
In recent statements, Fed officials left open the possibility that the US Central Bank will not discuss cutting interest rates until mid-year.
With that in mind, this expert said that the short-term direction of gold will continue to depend on upcoming economic data and their impact on the USD, yields and, not least, the future. Hope for interest rate cuts.
In recent statements, Fed officials left open the possibility that the US Central Bank will not discuss cutting interest rates until mid-year.
With that in mind, this expert said that the short-term direction of gold will continue to depend on upcoming economic data and their impact on the USD, yields and, not least, the future. Hope for interest rate cuts.
TP1: 2030
TP2: 2025
SL: 2050