💡 XAUUSD: Deep reduction ability
The market recently received information that the World Bank (WB) has forecast that the global economic outlook may still be weak, but with Latin America increasing compared to 2023.
Specifically, the World Bank has forecast that Latin America's gross domestic product (GDP) in 2024 will increase slightly compared to the 2.2% recorded last year, and is expected to increase to 2.5% this year. 2025.
Goldman Sachs Bank (USA) forecasts that the global economy will grow by 2.6% next year, higher than the 2.1% estimate of economists in a Bloomberg survey. The US is also expected to grow by 2.1%, higher than other developed countries.
Experts say that when inflation is lower or equal to forecasts, gold prices will fall further. Because major economies like the US and Latin America continue to recover well, central banks will reduce pressure on interest rates. When interest rates remain high, it will also make gold - an asset that shelters cash flow - less attractive
Specifically, the World Bank has forecast that Latin America's gross domestic product (GDP) in 2024 will increase slightly compared to the 2.2% recorded last year, and is expected to increase to 2.5% this year. 2025.
Goldman Sachs Bank (USA) forecasts that the global economy will grow by 2.6% next year, higher than the 2.1% estimate of economists in a Bloomberg survey. The US is also expected to grow by 2.1%, higher than other developed countries.
Experts say that when inflation is lower or equal to forecasts, gold prices will fall further. Because major economies like the US and Latin America continue to recover well, central banks will reduce pressure on interest rates. When interest rates remain high, it will also make gold - an asset that shelters cash flow - less attractive
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