Today's gold price (January 2) still maintains its upward movement, although most investors choose to give weight. The Federal Reserve is expected to begin cutting interest rates for the first time at its March meeting. and decline to approximately 1.50% in 2024, a key factor keeping pressure on the dollar and US bond yields. However, with movements at lower levels, investors are wary of further responding to such forecasts. Additionally, he predicted the direction of the central bank's interest rates. This is considered tougher than the central bank's forecast. As a result, investors some of them are more opportunistic against the uncertainty of such forecast trends. This scenario helps support the dollar and US bonds may rally today. This may happen to a certain extent as the price of gold has increased further.However, investors are waiting to follow the release of US economic data. Especially on the labor market side, including the minutes of the latest Fed Monetary Policy Committee (FOMC) meeting that will be released gradually this week. To find a clear signal confirming the central bank's interest rate direction.
Advice
• Watch the name if the price breaks above the support area of $2,052 per ounce.
• Sell to earn profit. As the price approaches the resistance zone at $2,089-2,093 per ounce.
• Stop loss level if the price breaks the support level of $2,052 per ounce.
This article was prepared by YLG Bullion International.
For more information, contact 02-687-9888 1 or visit ylgbullion.co.th
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