nodepositbonuscasinos2022| ATFX: On the eve of the Federal Reserve's decision, gold remains lingering in the channel
editor 2024-04-30 21:37:46 Nature 25
Gold prices fell slightly against the backdrop of conflicting signals from the US economy and increased risk appetite.
Gold reversed its rally after two consecutive trading days, but remained within a familiar range as traders prepared for the Fed's monetary policy decision on May 1. Last week, data released in the United States showed that GDP was lower than expected, while core personal consumption spending, the Fed's preferred indicator of inflation, stagnated at 2% year-on-year for the second month in a row.Nodepositbonuscasinos2022.8%.
The recent decline in gold prices can be attributed to several factors, including a surge in risk appetite, lower Treasury yields and a weaker dollar. It is worth noting that, given the lack of progress in curbing inflation, Fed Chairman Jerome Powell's comments on the appropriateness of the current monetary policy position are significant. The Fed is expected to keep interest rates unchanged and investors are eagerly awaiting Friday's U. S. non-farm payrolls data.
In addition, gold prices fell slightly as a result of ongoing cease-fire negotiations between Israel and Hamas. If the cease-fire negotiations are successful, they could ease the geopolitical risk premium for gold.
From a technical point of view, gold is moving in the channel and is approaching the end of the channel. This indicates that a breakthrough may occur soon because it is in the consolidation stage and the next stage will be a breakthrough in the direction. However, since Fed meetings and Middle East negotiations will play a vital role in gold prices, it is unlikely to predict which side it will break, the resistance level will look at $2353, and to see a lower price, it will have to break through the support level of $2320.23.
[risk Tip] according to the relevant regulations on foreign exchange management, the buying and selling of foreign exchange shall be carried out at the trading venues prescribed by banks and other countries. Those who buy and sell foreign exchange privately, buy and sell foreign exchange in disguise, buy and sell foreign exchange or illegally introduce a large amount of foreign exchange shall be subject to administrative punishment by the foreign exchange control agency in accordance with the law.Nodepositbonuscasinos2022If the case constitutes a crime, criminal responsibility shall be investigated in accordance with the law.