XAU will have a recovery period after a strong increase
The world gold market was quiet in the early morning trading session this morning (Vietnam time) while waiting for the US Department of Labor's September employment report to be released on Friday morning. The number of nonfarm, critical jobs is expected to increase by 170,000 compared with an increase of 187,000 in the September report. Wednesday's private sector jobs report shows the labor market The US continues to show signs of cooling, causing many people to expect to see another disappointing report from the US Department of Labor. A weakening US economy would actually be a good thing for markets, as it would likely moderate the rise in bond yields.
Since the most recent monetary policy meeting, the US Federal Reserve's strong policy stance that interest rates will stay "higher for longer" has continued to hurt gold as prices holding near its lowest level since March. While most think the precious metal is likely to fall further, ING Bank experts remain optimistic that, despite the short-term weakness, prices could still rise above $2,000 an ounce by next year and higher until 2025.
Since the most recent monetary policy meeting, the US Federal Reserve's strong policy stance that interest rates will stay "higher for longer" has continued to hurt gold as prices holding near its lowest level since March. While most think the precious metal is likely to fall further, ING Bank experts remain optimistic that, despite the short-term weakness, prices could still rise above $2,000 an ounce by next year and higher until 2025.
Uwaga
SELL XAU 1949 - 1951TP1: 1939
TP2: 1935
SL: 1959
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