World gold prices decrease when the USD increases
World gold prices fell more than 1% on Thursday as investors rushed to take profits after prices hit a 5-week high.
"Gold still has an upward trend. However, last night's decline may have occurred because investors sold to take profits ahead of next week's meeting of the US Federal Reserve (FED)" - Zain Vawda - analyst market analysis at MarketPulse commented.
This expert believes that the market is shifting its focus to next year's interest rate plan from the FED. This will determine the sustainability of the current uptrend. According to the CME FedWatch interest rate tracking tool, investors currently forecast a 98% probability of the FED cutting interest rates in December.
In its "2025 Outlook" report released on Thursday, the World Gold Council (WGC) said the gold market will face two distinct scenarios next year as uncertainty dominates investor sentiment. . However, their base case predicts gold prices will move relatively neutrally if current market conditions continue.
“The market consensus is that macroeconomic variables such as GDP, yields and inflation, if viewed in simple terms, suggest that gold will have positive but modest growth in 2025.
🔥 XAUUSD SELL 2698 - 2700🔥
💵 TP1: 2680
💵 TP2: 2670
💵 TP3: OPEN
🚫 SL: 2710
"Gold still has an upward trend. However, last night's decline may have occurred because investors sold to take profits ahead of next week's meeting of the US Federal Reserve (FED)" - Zain Vawda - analyst market analysis at MarketPulse commented.
This expert believes that the market is shifting its focus to next year's interest rate plan from the FED. This will determine the sustainability of the current uptrend. According to the CME FedWatch interest rate tracking tool, investors currently forecast a 98% probability of the FED cutting interest rates in December.
In its "2025 Outlook" report released on Thursday, the World Gold Council (WGC) said the gold market will face two distinct scenarios next year as uncertainty dominates investor sentiment. . However, their base case predicts gold prices will move relatively neutrally if current market conditions continue.
“The market consensus is that macroeconomic variables such as GDP, yields and inflation, if viewed in simple terms, suggest that gold will have positive but modest growth in 2025.
🔥 XAUUSD SELL 2698 - 2700🔥
💵 TP1: 2680
💵 TP2: 2670
💵 TP3: OPEN
🚫 SL: 2710
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