Hello everyone,
Last night, spot gold on the international market saw a sharp rally of several dozen dollars per ounce after the US released a series of economic reports that came in weaker than expected — particularly labour market data, which strengthened expectations that the Fed may accelerate its rate-cutting path. This is generally positive for gold, as lower interest rates reduce the opportunity cost of holding non-yielding assets.
However, shortly after the breakout, the market witnessed a large wave of profit-taking from institutional investors, causing gold to reverse and drop sharply.
The downside pressure did not come solely from profit-taking; it was also reinforced by a US economic backdrop showing mixed and increasingly unstable signals: weak employment data, slowing growth prospects, and rising expectations of imminent Fed rate cuts. These factors have left capital flows uncertain — torn between holding gold for safety or shifting toward risk assets as US equities recover slightly.
From my perspective, gold is now standing at a critical crossroads:
Gold’s next move will depend heavily on upcoming US economic releases this week and how the market reacts to shifting expectations around the Fed’s monetary policy.
Wishing everyone a clear-headed and successful trading day ahead!
Last night, spot gold on the international market saw a sharp rally of several dozen dollars per ounce after the US released a series of economic reports that came in weaker than expected — particularly labour market data, which strengthened expectations that the Fed may accelerate its rate-cutting path. This is generally positive for gold, as lower interest rates reduce the opportunity cost of holding non-yielding assets.
However, shortly after the breakout, the market witnessed a large wave of profit-taking from institutional investors, causing gold to reverse and drop sharply.
The downside pressure did not come solely from profit-taking; it was also reinforced by a US economic backdrop showing mixed and increasingly unstable signals: weak employment data, slowing growth prospects, and rising expectations of imminent Fed rate cuts. These factors have left capital flows uncertain — torn between holding gold for safety or shifting toward risk assets as US equities recover slightly.
From my perspective, gold is now standing at a critical crossroads:
- Weak US data could support another upward leg.
- A dovish Fed remains a strong underlying foundation.
- But persistent profit-taking may prolong the short-term correction.
Gold’s next move will depend heavily on upcoming US economic releases this week and how the market reacts to shifting expectations around the Fed’s monetary policy.
Wishing everyone a clear-headed and successful trading day ahead!
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.