Today's trading trends, selling strategies

Jun 10

The employment and economic data released by the US last week showed both positive and negative trends. However, the fairly positive job market has caused the market to predict that the US Federal Reserve (Fed) will not cut interest rates before November this year, instead of September as previously forecast.

Experts say that world gold prices in the next few days will adjust within a narrow range to wait for information from the Fed meeting taking place on June 11-12. Surely the Fed will keep interest rates unchanged this meeting. However, the market will look for information about the health of the US economy and the direction of inflation.

Some financial institutions believe that the Fed cutting interest rates may consider the deflation situation of the world's No. 1 economy, when it twice reported the country's gross domestic product growth in the first quarter. a sharp decrease compared to the fourth quarter of 2023.

Experts recommend that investors should patiently wait for information from the Fed meeting. Because gold prices will be strongly affected when the Fed releases positive information from the US economy.