Gold prices are under pressure from a weaker US dollar, and China’s economic recovery, but uncertainty about the Federal Reserve’s monetary policy is limiting growth.
Yesterday, the US Consumer Price Index was released for the month of March.
Consumer price, Core CPI index monthly changes and net consumer price index annual benchmark all had a uniform decrease.
China’s loan growth was stronger than the market expected. This should move the market tomorrow when China’s stock market opens. CNY and CNH should strengthen
In the past week, gold was fixed above 2000 dollars. This consolidation was done right above the $2000 and $2002 area. Important and psychological area.
The momentum is still bullish and can rise again to its historical high. We mean the area of 2060. But this price jump definitely needs a catalyst as a driver.
With the Services PMI beating estimates, we’re expecting strong retail activity data for March. But weaker export demand should drag on GDP. The government could provide stimulus to the economy after the release of the first quarter GDP data on 18 April
Powell has repeatedly cited the strong labor market as one of the reasons for allowing interest rate hikes at FOMC meetings. But how far does this strong labor market stretch?
The manufacturing sector indices of the US purchasing managers were released in the final assessment of March
The expected number was 49.3, while the actual number was 49.2 that this print is weaker than expected and pressured on USD and strength bond yields.
Last week, we mentioned the buy sentiments of gold as a safe-haven asset.
Now that the market has priced banking crises what are the gold movement drivers?
Recession, yes fear of stagnation is remain. Fear of recession in the global economy remains and now the gold buyers are still in their long positions.
The UK economy grew in the last quarter of 2022 and avoided recession. England’s Office for National Statistics reported that gross domestic product, the value of all goods and services produced in England, increased by 0.6% in the fourth quarter of 2022, after falling by 0.1% in the previous quarter.
Inflation decreased in France in March, thanks to base effects on energy prices. Nevertheless, underlying inflationary pressures remain very high and food inflation will continue to rise. GDP growth will therefore likely remain weak, as confirmed by the falling consumer consumption in Februar
