waiting for gold's recovery after a volatile week
Gold prices are pressured by economic reports of China's Gross Domestic Product (GDP) growth and positive economic and employment data in the US.
This week, the market will closely monitor fluctuations in the USD, forecasting to witness many fluctuations when three major central banks make monetary policy decisions, which are: Bank of Japan, Bank of Canada and European Central Bank (ECB).
Some analysts note that investors will need to closely monitor the dollar as the greenback continues to influence the price direction of precious metals.
Investors are also eagerly waiting for inflation data to be released on Friday. Analysts said that if the report shows that the core personal consumption expenditure index (the Fed's preferred inflation measure) did not fall as expected, that could affect the expansion plan. loose monetary policy of the US Central Bank.
This week, the market will closely monitor fluctuations in the USD, forecasting to witness many fluctuations when three major central banks make monetary policy decisions, which are: Bank of Japan, Bank of Canada and European Central Bank (ECB).
Some analysts note that investors will need to closely monitor the dollar as the greenback continues to influence the price direction of precious metals.
Investors are also eagerly waiting for inflation data to be released on Friday. Analysts said that if the report shows that the core personal consumption expenditure index (the Fed's preferred inflation measure) did not fall as expected, that could affect the expansion plan. loose monetary policy of the US Central Bank.
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