Dear beloved friends, yesterday's gold trading session was relatively calm with no significant fluctuations. At present, the price is still hovering around $2033 and maintaining support at $2025.
In the short and medium term, the upward momentum of gold is still highly regarded. From today's chart, the two main targets for buyers are $2037 and $2041.
Regarding predictions, the market is awaiting the release of the US Personal Consumption Expenditures (PCE) report. This crucial inflation data is expected to provide investors with further clues about the future direction of interest rates by the Federal Reserve. The report is scheduled to be released on Thursday, with a projected monthly increase of 0.4%. If the PCE data exceeds expectations, gold prices may decline. However, this precious metal is still expected to remain above $2000 per ounce.
In the short and medium term, the upward momentum of gold is still highly regarded. From today's chart, the two main targets for buyers are $2037 and $2041.
Regarding predictions, the market is awaiting the release of the US Personal Consumption Expenditures (PCE) report. This crucial inflation data is expected to provide investors with further clues about the future direction of interest rates by the Federal Reserve. The report is scheduled to be released on Thursday, with a projected monthly increase of 0.4%. If the PCE data exceeds expectations, gold prices may decline. However, this precious metal is still expected to remain above $2000 per ounce.
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