XAUUSD - Bearish but outlook still bullish!
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!
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!
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