What changes in gold price this week?
Updated
Hello dear friends, Let's find out what's new with the price of gold at the beginning of the week.
Currently, gold is trading around $2003 and there isn't much volatility. It is still in a downward trend and could potentially decrease further due to last week's employment report and wage data, which may make the Federal Reserve more hawkish. This would push the USD higher and bond yields up, limiting the recovery of gold prices.
This week, we will see developments in the monetary policy meetings of major central banks around the world. The Federal Open Market Committee (FOMC) of the US Federal Reserve will meet on Wednesday, followed by meetings of the Bank of England and the European Central Bank on Thursday. This will have a significant impact on the price of gold and clarify the next move for this precious metal.
Currently, gold is trading around $2003 and there isn't much volatility. It is still in a downward trend and could potentially decrease further due to last week's employment report and wage data, which may make the Federal Reserve more hawkish. This would push the USD higher and bond yields up, limiting the recovery of gold prices.
This week, we will see developments in the monetary policy meetings of major central banks around the world. The Federal Open Market Committee (FOMC) of the US Federal Reserve will meet on Wednesday, followed by meetings of the Bank of England and the European Central Bank on Thursday. This will have a significant impact on the price of gold and clarify the next move for this precious metal.
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