Gold Spot / U.S. DollarUpdated XAUUSD - Is the 2400 USD target possible?
Hello dear friends! Yesterday, gold faced some challenges in the context of a stronger US dollar. However, it still remains a focal point of interest for international investors.
After dropping to $2,330 per ounce, gold quickly rebounded within just 20 minutes, climbing back to around its previous price of $2,345 per ounce and stabilizing at around $2,331 at the time of writing.
Investors seem unsurprised by the much stronger US dollar and the possibility of a delay by the Fed. Gold continues to be a safe haven amidst high inflation and the instability and turmoil of the global economy.
It seems that the demand for gold will likely continue to rise unless inflation exceeds expectations. A more stable report could push the price of gold up to $2,400.
After dropping to $2,330 per ounce, gold quickly rebounded within just 20 minutes, climbing back to around its previous price of $2,345 per ounce and stabilizing at around $2,331 at the time of writing.
Investors seem unsurprised by the much stronger US dollar and the possibility of a delay by the Fed. Gold continues to be a safe haven amidst high inflation and the instability and turmoil of the global economy.
It seems that the demand for gold will likely continue to rise unless inflation exceeds expectations. A more stable report could push the price of gold up to $2,400.
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Related publications
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.