Gold Spot / U.S. DollarUpdated XAUUSD : Waiting for upcoming US economic data
Gold rebounded to $2,040 following a decline in US unemployment claims, with focus shifting to key economic data next week.
Over the past week, gold prices fell to $2,020 following PMI data and US unemployment claims on Thursday but then recovered to $2,040 heading into the weekend. In the context that Fed officials are not yet ready to cut interest rates and the S&P 500 has increased recently, precious metals are not expected to break out at present. Gold is currently trading at $2,033.
Next week, the market will receive many important economic data including the consumer confidence report, US GDP data and the core PCE index - the Fed's preferred inflation measure.
Over the past week, gold prices fell to $2,020 following PMI data and US unemployment claims on Thursday but then recovered to $2,040 heading into the weekend. In the context that Fed officials are not yet ready to cut interest rates and the S&P 500 has increased recently, precious metals are not expected to break out at present. Gold is currently trading at $2,033.
Next week, the market will receive many important economic data including the consumer confidence report, US GDP data and the core PCE index - the Fed's preferred inflation measure.
Note
SELL 2031 - 2035TP1 : 2025
TP2 : 2020
SL 2040
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Disclaimer
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.