Gold continues to decline, today's strategy is mainly to sell

World gold prices increased slightly this morning with spot gold increasing by 8.3 USD to 2,028.9 USD/ounce. Gold futures last traded at 2,030.6 USD/ounce, up 8.4 USD compared to yesterday morning.

World gold prices were adjusted up slightly as investors waited for a series of US economic data this week to get more signals about when to cut interest rates by the US Federal Reserve (Fed).

According to RJO Futures senior market strategist Daniel Pavilonis, the gold market is in a neutral environment as prices continue to remain above $2,000/ounce and are unable to break out of the current range.

This week, the market is awaiting the preliminary US Purchasing Managers' Index report due out on Wednesday, fourth-quarter GDP data expected on Thursday and personal consumption expenditure data on Thursday. Friday for more signals on the interest rate direction of the US Central Bank.

Fed officials said last week that the US Central Bank needs more data before making any comments regarding any interest rate cuts and that the timing of loosening monetary policy may be later. much higher than market expectations.