The financial markets at a glance
Your market news roundup
What’s happening in the markets?
We’ve put together some of the most important news and events that may affect your trades in the near term.
Conflict, Growth, and Inflation. Will These Factors Shake Up Gold?
- Earlier this week, a potential conflict was brewing in Russia, which worried the market.
- This week, the market is assessing the US economic condition by observing the US GDP growth data.
- Apart from the inflation rate that was announced earlier this month, the market is pending the Core PCE Price Index data, which Feds utilized to gauge on the inflation.
- From a technical perspective, Gold has sustained its position under the previous support area at 1,930 – 1,950 USD per troy ounce.
- The price may reach its intraday target at 1,960 – 1,970 USD per troy ounce if it can close above 1,935 USD per troy ounce.
- On the contrary, should the price continue to plunge, the next target will be around 1,890 – 1,910 USD per troy ounce.
Stay tuned for more updates in the future.
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