Gold suddenly reversed growth again, an opportunity to sell GOLD
World gold prices reversed and increased sharply with spot gold increasing by 27.1 USD to 2,022.4 USD/ounce. Gold futures last traded at 2,025.1 USD/ounce, up 18.6 USD compared to yesterday morning.
Developments in the Middle East boosted safe-haven demand for gold on Thursday (US time), helping gold escape its previous five-week low under pressure from changes in interest expectations. productivity after economic report was stronger than expected.
According to senior market strategist Daniel Pavilonis of RJO Futures, amid much uncertainty, gold prices will be kept above $2,000/ounce. On January 17, the US Government returned the Houthis in Yemen to the list of terrorist groups as they continued to conduct attacks on commercial and military vessels.
In addition to the instability factor, speculation surrounding the timing of interest rate cuts by the US Federal Reserve (Fed) is also affecting the direction of gold. Currently, investors are still waiting for further information to learn more about the Fed's future interest rate direction. Currently, most opinions believe that interest rates will be cut if published data shows that inflation "cools down" significantly.
Atlanta Fed President Raphael Bostic said Thursday that he supports cutting interest rates sooner if there is "compelling" evidence that inflation is falling more sharply than expected. In a recent statement, he said that inflation could be "volatile" if policymakers cut interest rates too soon.
Developments in the Middle East boosted safe-haven demand for gold on Thursday (US time), helping gold escape its previous five-week low under pressure from changes in interest expectations. productivity after economic report was stronger than expected.
According to senior market strategist Daniel Pavilonis of RJO Futures, amid much uncertainty, gold prices will be kept above $2,000/ounce. On January 17, the US Government returned the Houthis in Yemen to the list of terrorist groups as they continued to conduct attacks on commercial and military vessels.
In addition to the instability factor, speculation surrounding the timing of interest rate cuts by the US Federal Reserve (Fed) is also affecting the direction of gold. Currently, investors are still waiting for further information to learn more about the Fed's future interest rate direction. Currently, most opinions believe that interest rates will be cut if published data shows that inflation "cools down" significantly.
Atlanta Fed President Raphael Bostic said Thursday that he supports cutting interest rates sooner if there is "compelling" evidence that inflation is falling more sharply than expected. In a recent statement, he said that inflation could be "volatile" if policymakers cut interest rates too soon.
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