XAUUSD - Bearish but outlook still bullish!

RKarina Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hi everybody. At the beginning of today's trading session, gold fell after a strong increase late last Friday. Year-to-date, the precious metal is down more than $10, reflecting a 0.48% drop on the day.

Looking ahead, gold is expected to face more short- and medium-term corrections. However, from a long-term perspective, investors and markets are still optimistic that gold will regain the $2,400 level. This belief is reinforced by signs that the US labor market is cooling. With inflation under control and US interest rate cuts expected to increase - currently expected to happen twice - the outlook for gold remains positive, encouraging traders to stay maintain faith in its resilience!
Trade active
Trade active

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.