recovery after sharp decline of XAU
after the US Federal Reserve signaled interest rate cuts are coming next year
In addition to central bank meetings, investors will likely keep an eye on the European Union leaders' summit in Brussels, starting next Thursday.
The summit comes at a critical time for Ukraine, as the Biden administration has so far failed to get a $60 billion aid package through Congress and the war against Russia is entering a skirmish brutal winter.
The Fed has recognized cooling inflation and this has increased expectations of interest rate cuts, but has led to a sharp decline in bond yields and the USD. These are all factors supporting gold prices
In addition to central bank meetings, investors will likely keep an eye on the European Union leaders' summit in Brussels, starting next Thursday.
The summit comes at a critical time for Ukraine, as the Biden administration has so far failed to get a $60 billion aid package through Congress and the war against Russia is entering a skirmish brutal winter.
The Fed has recognized cooling inflation and this has increased expectations of interest rate cuts, but has led to a sharp decline in bond yields and the USD. These are all factors supporting gold prices
Comment:
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TP1: 2020
TP2: 2010
SL: 2050