The Asian trading session pushed XAU prices higher
In the short term, spot gold still tends to be more positive than negative. The price level of 2,310 USD/ounce is an important short-term support level this week."
The core personal consumption expenditures price index (PCE), the Fed's preferred inflation measure, is expected to be released later this week (May 31). Minutes of the Fed's latest meeting, released last week, show that the Fed will maintain benchmark interest rates at current levels but also discussed the possibility of raising interest rates in the near future.
A look at traders' recent bets shows growing skepticism that the Fed will lower interest rates multiple times in 2024.
In the short term, spot gold still tends to be more positive than negative. The price level of 2,310 USD/ounce is an important short-term support level this week."
The DXY index performed less positively and at the same time the yield also decreased
The core personal consumption expenditures price index (PCE), the Fed's preferred inflation measure, is expected to be released later this week (May 31). Minutes of the Fed's latest meeting, released last week, show that the Fed will maintain benchmark interest rates at current levels but also discussed the possibility of raising interest rates in the near future.
A look at traders' recent bets shows growing skepticism that the Fed will lower interest rates multiple times in 2024.
In the short term, spot gold still tends to be more positive than negative. The price level of 2,310 USD/ounce is an important short-term support level this week."
The DXY index performed less positively and at the same time the yield also decreased
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💵 TP1 2350
💵 TP2 2355
❌ SL 2335