XAU rises despite weak US economic data
US economic data on June 27 was not very positive: the number of applications for unemployment benefits reached the highest level since November 2021, the number of durable goods orders showed a bad signal for Q2 GDP, sales Pending home sales hit a record low, and finally, the Kansas Fed's manufacturing activity stagnated for the 21st straight month.
Keeping policy rates steady “for a while” may be enough to control inflation, but reiterate “a readiness to increase borrowing costs if necessary”.
Analysts say that world gold prices will likely find it difficult to break out in the short term, at least until there is clearer information about the Fed's monetary policy.
The weakening USD has pushed gold prices up above 2,300 USD
According to some experts, this is a way of pricing based on factors that do not yet exist. If the AI craze continues and the market bubble has not burst, the current price may still be considered cheap compared to future growth potential. However, because this index depends on expectations, the final results are still highly subjective.
Keeping policy rates steady “for a while” may be enough to control inflation, but reiterate “a readiness to increase borrowing costs if necessary”.
Analysts say that world gold prices will likely find it difficult to break out in the short term, at least until there is clearer information about the Fed's monetary policy.
The weakening USD has pushed gold prices up above 2,300 USD
According to some experts, this is a way of pricing based on factors that do not yet exist. If the AI craze continues and the market bubble has not burst, the current price may still be considered cheap compared to future growth potential. However, because this index depends on expectations, the final results are still highly subjective.
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