Gold Holds Near One-Month Highs on Soft U.S. Data,...
Gold prices held steady near their one-month highs on Thursday, bolstered by fresh disappointing U.S. economic data, which has increased expectations of a Federal Reserve pause in rate hikes this year. However, the outlook might change depending on the inflation figures scheduled for release later in the day.
- **Spot gold** was up 0.2% at $1,945.40 per ounce.
- **U.S. gold futures** remained stable at $1,972.40.
Despite this week's gains, gold is still on course for a monthly decline of nearly 1%. This is influenced by the U.S. dollar, which is eyeing its first monthly rise in three months, and U.S. Treasury yields, which are set for their fourth consecutive monthly increase, reaching levels not seen since 2007 last week.
GOLD
SELL LIMIT 1948-1949 🔽🔽
✅TP1: 1943
✅TP2: 1938
🚫SL: 1953
- **Spot gold** was up 0.2% at $1,945.40 per ounce.
- **U.S. gold futures** remained stable at $1,972.40.
Despite this week's gains, gold is still on course for a monthly decline of nearly 1%. This is influenced by the U.S. dollar, which is eyeing its first monthly rise in three months, and U.S. Treasury yields, which are set for their fourth consecutive monthly increase, reaching levels not seen since 2007 last week.
GOLD
SELL LIMIT 1948-1949 🔽🔽 ✅TP1: 1943
✅TP2: 1938
🚫SL: 1953
