XAU selling campaign when USD fluctuates
The DXY index dropped relatively sharply yesterday, leading to an increase in XAU
Inflation remains stubbornly high and the Fed has recently taken a "hawkish" stance, but Thursday's pressure appeared to be strong due to a stronger-than-expected Initial Jobless Claims report.
This increase leads to concerns about the possibility of a weakening US labor market and the market increases expectations that the Fed will have to cut interest rates sooner than they say.
While Fed officials remain cautious about cutting interest rates, the market forecasts a 10% chance of a rate cut in June, 33% in July, 85% in September and 100% certainty in November. .
Geopolitical risks along with increased demand from Asian central banks and investors also create a boost for gold. This morning, May 10, world gold continued to increase slightly, currently trading above 2,350 USD. Perhaps this unexpected increase is part of the reason why the domestic gold price reached a new historic peak.
Inflation remains stubbornly high and the Fed has recently taken a "hawkish" stance, but Thursday's pressure appeared to be strong due to a stronger-than-expected Initial Jobless Claims report.
This increase leads to concerns about the possibility of a weakening US labor market and the market increases expectations that the Fed will have to cut interest rates sooner than they say.
While Fed officials remain cautious about cutting interest rates, the market forecasts a 10% chance of a rate cut in June, 33% in July, 85% in September and 100% certainty in November. .
Geopolitical risks along with increased demand from Asian central banks and investors also create a boost for gold. This morning, May 10, world gold continued to increase slightly, currently trading above 2,350 USD. Perhaps this unexpected increase is part of the reason why the domestic gold price reached a new historic peak.
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TP1: 2345
TP2: 2340
SL: 2358