At the start of the new trading week, gold saw a slight increase in price, reaching around 2025 - 2026 USD. This marks a 0.39% recovery and an approximate 8 USD increase up to the present moment.
It can be observed that over the past two weeks, the global gold price has experienced minor fluctuations, with no clear upward or downward trend. Last week, gold fluctuated within a range of about 10 USD and failed to break out even when the latest reports indicated a "cooling down" of inflation. However, everything could change in the coming days as the Federal Reserve (Fed) holds its meeting and makes interest rate decisions.
Currently, the markets expect the U.S. Central Bank to maintain interest rates at the meeting scheduled for midweek and rule out any tightening possibilities in future meetings. The release of the core personal consumption expenditure price index report over the past weekend showed that the "cooling down" of inflation has led many to believe that an early easing scenario could occur. For this reason, many experts predict that the Fed will maintain a cautious tone at its first meeting of 2024, which could benefit gold.
It can be observed that over the past two weeks, the global gold price has experienced minor fluctuations, with no clear upward or downward trend. Last week, gold fluctuated within a range of about 10 USD and failed to break out even when the latest reports indicated a "cooling down" of inflation. However, everything could change in the coming days as the Federal Reserve (Fed) holds its meeting and makes interest rate decisions.
Currently, the markets expect the U.S. Central Bank to maintain interest rates at the meeting scheduled for midweek and rule out any tightening possibilities in future meetings. The release of the core personal consumption expenditure price index report over the past weekend showed that the "cooling down" of inflation has led many to believe that an early easing scenario could occur. For this reason, many experts predict that the Fed will maintain a cautious tone at its first meeting of 2024, which could benefit gold.
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