Gold increased on the first day of the week,selling to entry buy

World gold prices tend to increase with spot gold increasing by 2.3 USD compared to last week's closing level to 2,416.7 USD/ounce.

Last week, world gold prices fluctuated strongly as the market continuously received important economic data along with statements from US Federal Reserve (Fed) officials. This precious metal started the trading week at 2,361.17 USD/ounce and increased steadily beyond the 2,400 USD/ounce mark when Fed Chairman Jerome Powell's statement and economic data confirmed that interest rates will no further increase and the Fed may soon loosen policy this year.

Kitco News' latest weekly gold survey results show the majority of experts believe gold prices could reach or surpass all-time highs, while retail traders are cautious. this precious metal.

After an exciting week, the market is expected to be quiet this week with little important economic data released. The information that is believed to be able to affect the direction of gold is the minutes of the Fed's monetary policy meeting ending on May 1. However, most experts believe that the content of the minutes will not exceed investors' expectations, so the gold market will have little reaction unless there is unexpected information. In addition, the market also awaits statements from Fed officials. Six officials are expected to speak early this week.

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