FOREX-FLOWS-GROWL

Today's world gold price listed on Kitco is at 2,114 USD/ounce, up 37 USD/ounce compared to early yesterday morning. Thus, the world gold price has set a new peak when it surpassed the threshold of 2,114 USD/ounce, this is the highest threshold ever. The previous peak was set in early December 2023 at a price of 2,110 USD/ounce. Gold prices reached a new peak today thanks to increased expectations that the US Federal Reserve (Fed) will loosen monetary policy. High inflation scenarios are also beneficial for gold. According to him, persistently high inflation could make investors lose confidence in the US Central Bank, weaken the dollar and make gold an attractive asset. Besides interest rate expectations, rising geopolitical tensions are also another catalyst driving gold's current rally. The next important economic information awaited by the market is the February jobs report to be released on Friday. This data is expected to impact expectations of interest rate cuts in the US.

Gold suddenly reversed and dropped sharply At the end of the trading session last night - early this morning, the price of gold delivered under the February 2024 contract dropped sharply by 46 USD/ounce, to 2,048 USD/ounce compared to the previous session. The main reason for the decrease in gold prices in the trading session last night and this morning was due to the sudden strong increase in the USD. The Dollar-Index reversed and increased sharply by 0.36%, to 103,640 points. Besides, according to CME's FedWatch Tool, investors currently only assess the Fed's possibility of cutting interest rates in March 2024 at 57%, down from 63% last week.

Gold surpasses all-time high World spot gold price increased 1.6% to 2,069.10 USD/ounce. Earlier this session, at one point the gold price touched 2,075.09 USD/ounce and exceeded the all-time high of 2,072.49 established in 2020. Gold futures price in the US also increased to a record high of 2,089.7 USD /ounce in this session. The rise in world gold prices to the highest level ever in this chart is believed to be due to Fed Chairman Jerome Powell's latest statement admitting that the Fed needs to act cautiously when there are signs of economic weakness. international. Senior analyst Jim Wyckoff of Kitco Metals Company said that the short-term outlook for gold is still favorable, as the USD is trending down amid forecasts that the Fed will not raise interest rates anymore and may even interest rates will likely be lowered in the spring. Lower interest rates reduce the opportunity cost of holding non-yielding assets, which in turn typically drives up gold prices.

Gold prices continue to maintain a slight increase At the end of this morning's trading session, gold prices still increased strongly, but gold had difficulty taking advantage of increased profits in the region to reach 2,050 USD/ounce. The US Dollar modestly eased off its lowest level since August 11, acting as a drag on Gold prices, despite bets on interest rate cuts by the US Federal Reserve (FED). in 2024 support continues. Gold prices are still considered difficult to predict in the short term. The market now expects the Fed to keep its key lending rate steady within its target range of 5.25% - 5.5% in December, although officials have stressed the need for vigilance. with inflation and keep their options open. The ceasefire agreement between Israel and Hamas was extended by two days beyond its original deadline on Tuesday morning. Hamas released about 50 hostages as part of the original agreement and is expected to release 20 more. another in the next two days in exchange for Israel releasing Palestinian prisoners. This could reduce the metal's safe-haven appeal. Additionally, traders are now scrutinizing the preliminary US GDP report, which is expected to show the world's largest economy growing at an annual rate of 5% in the third quarter vs. with an estimated level of 4.9%.

Gold prices increased slightly thanks to the weak USD World gold prices were almost flat in this morning's trading session after increasing slightly the previous day thanks to the weakening USD, but investors remained mostly out of the market because of the holiday. World gold prices increased slightly in the trading session on Thursday (November 23) thanks to the weakening of the USD, but investors mostly stayed out of the market because of the Thanksgiving holiday and uncertainty surrounding the interest rate roadmap. of the US Federal Reserve (Fed). Closing the session, spot gold price increased 0.1% to 1,991.79 USD/ounce, while gold price for December delivery stabilized at 1,993.3 USD. Absent any new influences, I still don't think gold has the momentum to stay above $2,000 for the rest of the year. The fundamentals remain supportive over the longer term – geopolitical issues, especially in the Middle East and the possibility of further banking crises in the US and elsewhere – but only if one or both These two factors escalate, otherwise we could see prices slide.

Gold benefits when USD and Treasury bond yields fall The world gold market benefits when the USD and treasury bond yields fall. Yesterday, the market received information about US inflation data, which more or less affected gold prices. Specifically, the US consumer price index remained unchanged in October and core inflation showed signs of slowing down. CPI increased by 3.2% compared to the same period last year. This level in September was 3.7%. According to the CME FedWatch tool, after the inflation report was released, the market predicted a 100% chance that the US Central Bank would keep interest rates unchanged in December compared to 86% before the inflation report. Weaker-than-expected US consumer inflation data caused the USD and Treasury bond yields to fall, thereby helping gold prices recover. CPI data was significantly weaker than expected, which was quite supportive for precious metals. Expect data to deteriorate significantly in the fourth quarter, which will weaken the USD and support gold. In the next six months, gold prices will increase to 2,100 USD/ounce.