Gold Prices Stable Amid Monetary Tightening and Global Economic
Gold prices hovered around $1920 per ounce on Monday, with minimal changes, as investors carefully considered the possibility of additional monetary tightening in contrast to concerns over a global economic slowdown.
The underwhelming performance of consumer and producer prices in China exacerbated signs of a stumbling recovery and heightened deflationary risks.
In the United States, a mixed payrolls report indicated a deceleration in job creation but revealed robust wage growth and a decline in the unemployment rate.
The imminent release of the US Consumer Price Index (CPI) report on Wednesday is anticipated to offer further insights into inflationary pressures.
Traders have assigned an approximate 92% likelihood of the Federal Reserve raising the fed funds rate by 25 basis points this month, although there are doubts regarding the necessity of additional rate hikes beyond July.
Other prominent central banks, such as the European Central Bank, the Bank of England, and the Bank of Canada, are expected to persist with their tightening measures.
XAUUSD
BUY LIMIT 1920 - 1923💯💯
✅ TP1: 1927
✅ TP2: 1932
✅ TP3: 1937
🛑 SL: 1916
The underwhelming performance of consumer and producer prices in China exacerbated signs of a stumbling recovery and heightened deflationary risks.
In the United States, a mixed payrolls report indicated a deceleration in job creation but revealed robust wage growth and a decline in the unemployment rate.
The imminent release of the US Consumer Price Index (CPI) report on Wednesday is anticipated to offer further insights into inflationary pressures.
Traders have assigned an approximate 92% likelihood of the Federal Reserve raising the fed funds rate by 25 basis points this month, although there are doubts regarding the necessity of additional rate hikes beyond July.
Other prominent central banks, such as the European Central Bank, the Bank of England, and the Bank of Canada, are expected to persist with their tightening measures.
XAUUSD
BUY LIMIT 1920 - 1923💯💯 ✅ TP1: 1927
✅ TP2: 1932
✅ TP3: 1937
🛑 SL: 1916
