XAUUSD : Gold will fluctuate strongly at the end of the week
World gold prices fluctuated around 2,329 USD/ounce in the first trading hours of the Asian session. Gold prices this week are forecast to be volatile as the market receives a series of important data, including employment data and minutes of the June FOMC meeting.
In his latest statement, Mr. Powell still emphasized his view that the US Central Bank will need more data before making a decision to cut interest rates to ensure that inflation is falling sustainably towards the target mark.
Michele Schneider - chief strategist of MarketGauge, commented that world gold prices are stable amid many risks. However, inflation, geopolitical tensions and the US government's budget deficit are increasing, which firmly supports gold prices.
In his latest statement, Mr. Powell still emphasized his view that the US Central Bank will need more data before making a decision to cut interest rates to ensure that inflation is falling sustainably towards the target mark.
Michele Schneider - chief strategist of MarketGauge, commented that world gold prices are stable amid many risks. However, inflation, geopolitical tensions and the US government's budget deficit are increasing, which firmly supports gold prices.
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