How will the gold price fluctuate in the new week?
Dear friends, in today's trading session, XAUUSD is showing signs of an upward movement within a price decline. At the time of writing this article, the price is trading around the range of 2025 - 2027 USD, marking a 0.39% recovery and an approximate increase of 8 USD.
It can be seen that over the past two weeks, the global gold price has experienced slight fluctuations and its value has been fluctuating without a clear trend. Last week, gold fluctuated within a range of about 10 USD and failed to break out even when the latest report showed a "cooling" of inflation. However, things could change in the coming days as the Federal Reserve (Fed) meets and makes interest rate decisions.
Currently, the markets are expecting the US Federal Reserve to maintain interest rates at the meeting taking place this week and rule out any tightening possibilities in future meetings. The report on core personal consumption expenditure index released last week indicated that "cooling" inflation has led many to believe that an early easing scenario may occur. For this reason, many experts predict that the Fed may maintain a cautious tone at its first meeting of 2024, which could benefit gold.
It can be seen that over the past two weeks, the global gold price has experienced slight fluctuations and its value has been fluctuating without a clear trend. Last week, gold fluctuated within a range of about 10 USD and failed to break out even when the latest report showed a "cooling" of inflation. However, things could change in the coming days as the Federal Reserve (Fed) meets and makes interest rate decisions.
Currently, the markets are expecting the US Federal Reserve to maintain interest rates at the meeting taking place this week and rule out any tightening possibilities in future meetings. The report on core personal consumption expenditure index released last week indicated that "cooling" inflation has led many to believe that an early easing scenario may occur. For this reason, many experts predict that the Fed may maintain a cautious tone at its first meeting of 2024, which could benefit gold.
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