Gold rose and held at 2454 today
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Experts say that the direction of gold this week will depend on the data released last week when the market lacked important new data. The most anticipated report of the week is the purchasing managers index (PMI) in the service sector for July.
A majority of economists surveyed by Reuters expect the Fed to cut rates twice this year, starting in September. Traders are currently pricing in about a 63% chance of a September rate cut, according to the CME FedWatch Tool.
A majority of economists surveyed by Reuters expect the Fed to cut rates twice this year, starting in September. Traders are currently pricing in about a 63% chance of a September rate cut, according to the CME FedWatch Tool.
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SELL XAU 2461 - 2459 TP1: 2454
TP2: 2447
SL: 2467
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