Gold edged higher on Tuesday, approaching the $1,930 per ounce mark, as US Federal Reserve officials hinted at the nearing conclusion of the current phase of monetary policy tightening. However, they also indicated the likelihood of raising interest rates further to combat inflation.
Currently, markets anticipate a 25 basis point rate hike by the Fed this month, although doubts remain regarding the necessity of additional increases.
Moreover, US consumer inflation expectations for the upcoming year declined for the third consecutive month in June 2023, dropping to 3.8% from May's 4.1%. This figure represents the lowest level seen in over two years.
Investors are now eagerly awaiting US consumer inflation data on Wednesday, as well as producer inflation numbers on Thursday, in hopes of gaining further insights into the state of the economy and the future trajectory of interest rates.
XAUUSD
BUY LIMIT 1920 - 1923💯💯
✅ TP1: 1928
✅ TP2: 1933
✅ TP3: 1938
🛑 SL: 1915
Currently, markets anticipate a 25 basis point rate hike by the Fed this month, although doubts remain regarding the necessity of additional increases.
Moreover, US consumer inflation expectations for the upcoming year declined for the third consecutive month in June 2023, dropping to 3.8% from May's 4.1%. This figure represents the lowest level seen in over two years.
Investors are now eagerly awaiting US consumer inflation data on Wednesday, as well as producer inflation numbers on Thursday, in hopes of gaining further insights into the state of the economy and the future trajectory of interest rates.
XAUUSD
BUY LIMIT 1920 - 1923💯💯 ✅ TP1: 1928
✅ TP2: 1933
✅ TP3: 1938
🛑 SL: 1915
