Latest gold update: Continue to conquer new records
Updated
Dear friend,
Today, gold ended the trading session with a significant price increase. The precious metal reached a high of around $2330 after touching $2270, gaining $60 in just one day.
You may be wondering why gold is rising so strongly.
In terms of international market information:
Despite better-than-expected US employment data, the global gold price continues to skyrocket, setting new records in weekend trading sessions and marking the third consecutive week of gains.
Recently, considering the strength of the economy and inflation data, Federal Reserve Chairman Jerome Powell reiterated the view that the US central bank has time to consider when to cut interest rates for the first time. According to CME FedWatch, traders are currently pricing in a 59% chance of a rate cut in June.
Conclusion: Currently, I am very optimistic about the possibility of gold prices reaching $2400 per ounce. In the context of central banks continuing to buy gold to diversify foreign exchange reserves, higher US bond yields or a stronger US dollar will not be obstacles for gold.
With the current trend, it is possible for prices to continue rising next week. There is evidence that once it reaches the level
Today, gold ended the trading session with a significant price increase. The precious metal reached a high of around $2330 after touching $2270, gaining $60 in just one day.
You may be wondering why gold is rising so strongly.
In terms of international market information:
Despite better-than-expected US employment data, the global gold price continues to skyrocket, setting new records in weekend trading sessions and marking the third consecutive week of gains.
Recently, considering the strength of the economy and inflation data, Federal Reserve Chairman Jerome Powell reiterated the view that the US central bank has time to consider when to cut interest rates for the first time. According to CME FedWatch, traders are currently pricing in a 59% chance of a rate cut in June.
Conclusion: Currently, I am very optimistic about the possibility of gold prices reaching $2400 per ounce. In the context of central banks continuing to buy gold to diversify foreign exchange reserves, higher US bond yields or a stronger US dollar will not be obstacles for gold.
With the current trend, it is possible for prices to continue rising next week. There is evidence that once it reaches the level
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