April 2, 2024 trading strategy

OANDA:XAUUSD   Gold Spot / U.S. Dollar
The record rise in gold prices is a sign that investors are worried that the Fed will not be able to control inflation when it starts cutting interest rates.
Investors should wait for a pullback before buying. Gold may return to the price of 2,150 USD and will attract a number of new investors. The upward trend of world gold prices continues as the market is witnessing that central banks of countries are selling off the USD. to buy gold.
If the US job market is stronger than expected, combined with "persistent" inflation, it may force the Fed to delay the start of the monetary policy loosening cycle. This will negatively impact precious metals.

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