Hello dear friends, it's a pleasure to explore the market with you today! Currently, the price of gold has risen again due to the weakening of the USD and has returned to the $1920 mark.
In the early morning, the US Dollar Index, which measures fluctuations in the greenback, slipped below 104 points. This has increased the appeal of gold for buyers who hold other currencies.
After four consecutive weeks of losses, gold recorded a slight increase this week. However, this increase is still modest. Traders should note that the gold market is in a wait-and-see state and upcoming economic data could bring significant fluctuations.
Wishing you good luck and successful trading 3
In the early morning, the US Dollar Index, which measures fluctuations in the greenback, slipped below 104 points. This has increased the appeal of gold for buyers who hold other currencies.
After four consecutive weeks of losses, gold recorded a slight increase this week. However, this increase is still modest. Traders should note that the gold market is in a wait-and-see state and upcoming economic data could bring significant fluctuations.
Wishing you good luck and successful trading 3
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BUY XAUUSD around the price: 1912 - 1914
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any weaker signal on the economic situation could convince the Fed that it does not need to continue raising rates, which will also support gold prices.
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The dollar fell 0.1%, making gold cheaper for holders of other currencies. Yields on 10-year Treasury notes are holding below recent peaks.
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The US Federal Reserve (Fed) has vowed to keep interest rates higher for a long time as the economic situation continues to support the labor market.
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The spot gold price quickly rebounded to $1,936 per ounce due to a rapid decrease in the USD.
