GOLD: Nice position for buyers!
Fundamental Overview
Last week, the United States released its Advance Gross Domestic Product (GDP) report which showed slower growth than expected in the world's largest economy. China's official Manufacturing Purchasing Managers' Index (PMI) also declined in April, while Japan's factory activity contracted for the sixth consecutive month. These economic indicators are contributing to recession fears globally. However, there are speculations that the US central bank will hold rates steady for the rest of the year, which may limit the downside for the Gold price for now. As a result, traders may refrain from making aggressive bearish bets before key central bank events on Wednesday and Thursday.
Gold is expected to return to an uptrend
Plan trade in the intro ♥
Last week, the United States released its Advance Gross Domestic Product (GDP) report which showed slower growth than expected in the world's largest economy. China's official Manufacturing Purchasing Managers' Index (PMI) also declined in April, while Japan's factory activity contracted for the sixth consecutive month. These economic indicators are contributing to recession fears globally. However, there are speculations that the US central bank will hold rates steady for the rest of the year, which may limit the downside for the Gold price for now. As a result, traders may refrain from making aggressive bearish bets before key central bank events on Wednesday and Thursday.
Gold is expected to return to an uptrend
Plan trade in the intro ♥
Zlecenie aktywne
Zlecenie aktywne
Uwaga
Hit Full TPTransakcja zakończona: osiągnięto poziom stop
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.