XAUUSD Positive signals are coming to gold, will gold rebound or
Global gold prices stabilized, with spot gold falling $0.4 to $1,820.6 per ounce. Gold futures were trading at $1,834.4 per ounce, down $0.4 from the previous morning.
Global gold markets were quiet in early morning trading this morning.
We are awaiting the release of the US Department of Labor's September employment report on Friday morning. The number of essential non-farm jobs is expected to increase by 170,000, compared to an increase of 187,000 in the September report. Private sector jobs data released Wednesday showed the U.S. labor market continues to show signs of slowing, and many are expecting another disappointing report from the Labor Department. America. A slowing U.S. economy would actually be good for markets, as it would likely limit the rise in bond yields. Since its last policy meeting, the Federal Reserve's strong policy stance that interest rates will remain high "for longer" continues to have a negative impact on gold, with gold prices hovering near their lowest levels since March. ing. While most believe that precious metals prices are likely to continue to decline, experts at ING Bank believe that despite the short-term weakness, prices could still reach $2,000 an ounce next year. We are optimistic that it will exceed 2020 and rise even further by 2025.
According to a recent report from the World Gold Council (WGC), central bank demand continues to dominate the gold market and this could be a key factor in why the precious metal remains at support levels. Given rising bond yields and continued dollar strength, this provides important long-term support.
Accordingly, the central bank purchased 77 tonnes of gold in August, an increase of 38% compared to July purchases. The WGC noted that central banks have purchased 219 tonnes of gold in the past three months. . Analysts expect central bank demand to remain healthy this year.
Global gold markets were quiet in early morning trading this morning.
We are awaiting the release of the US Department of Labor's September employment report on Friday morning. The number of essential non-farm jobs is expected to increase by 170,000, compared to an increase of 187,000 in the September report. Private sector jobs data released Wednesday showed the U.S. labor market continues to show signs of slowing, and many are expecting another disappointing report from the Labor Department. America. A slowing U.S. economy would actually be good for markets, as it would likely limit the rise in bond yields. Since its last policy meeting, the Federal Reserve's strong policy stance that interest rates will remain high "for longer" continues to have a negative impact on gold, with gold prices hovering near their lowest levels since March. ing. While most believe that precious metals prices are likely to continue to decline, experts at ING Bank believe that despite the short-term weakness, prices could still reach $2,000 an ounce next year. We are optimistic that it will exceed 2020 and rise even further by 2025.
According to a recent report from the World Gold Council (WGC), central bank demand continues to dominate the gold market and this could be a key factor in why the precious metal remains at support levels. Given rising bond yields and continued dollar strength, this provides important long-term support.
Accordingly, the central bank purchased 77 tonnes of gold in August, an increase of 38% compared to July purchases. The WGC noted that central banks have purchased 219 tonnes of gold in the past three months. . Analysts expect central bank demand to remain healthy this year.
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