Investors are cautious about making significant investments in the major foreign exchange currencies and gold prices due to concerns about inflation in the US and Eurozone. They are also eagerly awaiting China’s business activity data to assess whether its economy, the second-largest in the world, is recovering. The recent increase in oil prices is also causing some anxiety among investors as they consider its potential negative impact on inflation and global growth.
As a result of these factors, there is downward pressure on gold prices due to a stable US dollar and higher yields on US Treasury bonds, which do not offer interest.
Looking ahead, with a relatively calm economic calendar for the US, risk sentiment and actions related to the value of the US dollar and changes in yields on US Treasury bonds will determine gold prices. Germany’s IFO survey will be closely monitored for any new insights into the state of the Eurozone economy. Additionally, speeches from Federal Reserve policymakers may provide interesting discussions for gold traders.
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- Source: https://www.tradingview.com/chart/GOLD/xMUSybqC-Gold-prediction-in-the-US-session-27-SEPT/
