Update gold price at the beginning of the week!
Updated
Hello dear traders! It's great to see you all again for this week's Gold chat.
As predicted over the weekend, Gold has indeed opened strong today, maintaining its upward momentum. The sellers were unable to break through the $1800 support level, resulting in a robust price surge to reach $1850.
The market will be eagerly awaiting the release of the US Producer Price Index (PPI) report for September on Wednesday and the Consumer Price Index (CPI) report on Thursday. These reports are expected to provide further insights into the Federal Reserve's next moves.
Meanwhile, 43% of retail investors participating in online polls on Main Street expect an increase in gold prices this week, while 42% predict a decrease and 15% believe prices will remain stable in the short term.
As predicted over the weekend, Gold has indeed opened strong today, maintaining its upward momentum. The sellers were unable to break through the $1800 support level, resulting in a robust price surge to reach $1850.
The market will be eagerly awaiting the release of the US Producer Price Index (PPI) report for September on Wednesday and the Consumer Price Index (CPI) report on Thursday. These reports are expected to provide further insights into the Federal Reserve's next moves.
Meanwhile, 43% of retail investors participating in online polls on Main Street expect an increase in gold prices this week, while 42% predict a decrease and 15% believe prices will remain stable in the short term.
Trade active
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good luckNote
In order for the gold to increase firmly, the market needs to see the US Federal Reserve (Fed) began to be more peaceful during 2024.Note
Gold seems to be stabilizing nearly 1,820 USD/ounce. The greenback and the yield of Treasury bonds seem to decrease after a sharp increase.Note
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The war in Israel has created a new challenge, which can support gold price./.Note
increased as expectedNote
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