Gold Trade Reminder: USA's inflation data is weak, the dollar has experienced a Top Reversal, and gold prices have surged nearly 30 dollars.
On Monday (December 23) during the Asian market's early session, spot Gold fluctuated narrowly, currently trading around $2622.13 per ounce. Gold prices soared nearly $30 last Friday, supported by a weaker dollar and U.S. Treasury yields, following U.S. economic data indicating a slowdown in inflation. However, the Federal Reserve's hawkish interest rate outlook is expected to record a weekly decline in Gold prices. Additionally, several Federal Reserve officials' speeches supporting a slowdown in rate cuts next year still raise concerns for Gold bulls. Despite this, U.S. consumer spending increased in November, with strong demand for various Commodities and services, highlighting economic resilience. The U.S. Bureau of Economic Analysis stated that consumer spending in November...
Gold Weekly Review: The intertwining of the Federal Reserve's hawkish policies and geopolitical risks, can the gold price hold its support?
Recently, the Gold market has experienced complex fluctuations. Although gold prices rose after the latest inflation data from the USA was released, they still could not avoid the downward pressure this week. Spot gold closed at $2622.56 per ounce on December 20, marking a weekly decline of 0.98%. The pullback of the dollar and US bond yields provided some support for gold, but the hawkish policy expectations of the Federal Reserve continue to suppress gold prices, leading to more cautious market sentiment. Fundamental Analysis shows that the slowdown in inflation, according to the USA's latest November PCE (Personal Consumption Expenditures) data, has brought short-term support to the gold market.
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Gold Trade Reminder: USA data reinforces the Federal Reserve's hawkish stance, with gold prices aiming for the 200-day moving average?
On Friday (December 20), during early trading in the Asian market, spot Gold experienced narrow fluctuations and is currently trading around 2593.38 USD per ounce. After a rebound that was hindered on Thursday, Gold prices fell back, briefly rising to around 2626.33 USD per ounce earlier in the session, but closed below the 2600 mark at 2594.28 USD per ounce. US data strengthened expectations for a cautious easing policy from the Federal Reserve over the next year, with the USD and US ten-year Treasury yield continuing to rise, putting pressure on Gold prices. The data showed that the US economic growth rate in the third quarter exceeded expectations, while the number of jobless claims...
Gold Futures Close Lower, Reflecting US COMEX Trend