💡 XAUUSD: Still increasing despite good news for USD
Actualizado
In the face of favorable economic and employment indicators, the US dollar continued its decline for the second consecutive session. Notably, the Dollar-Index, which gauges the USD's strength against a basket of six major currencies, experienced a significant drop of 0.88%, reaching 101,960 points at 6:34 a.m. this morning (Hanoi time).
The diminishing value of the USD has spurred investors to persist in acquiring gold. Their rationale lies in the belief that central banks, such as the Federal Reserve (Fed) and the European Central Bank (ECB), are unlikely to further raise interest rates for two robust currencies, the USD and EUR. There is speculation that these central banks may even consider reducing interest rates in the upcoming two quarters. This anticipation has fostered investor confidence in the continued growth of the gold market.
Despite the weakened USD, experts note a significant reduction in the costs associated with speculating on and transacting in gold. However, investors are advised to exercise caution. While a weakened USD and the prospect of lower interest rates may bolster economic growth, there is a possibility that gold's role as a safe haven for cash flow could diminish. Currently, the substantial SPDR fund, having engaged in net buying on December 13, opted to take a modest profit during the session on December 14. The influx of profits from precious metals is expected to exert downward pressure on gold prices. Consequently, investors are advised to capitalize on profits when gold is yielding positive returns.
The diminishing value of the USD has spurred investors to persist in acquiring gold. Their rationale lies in the belief that central banks, such as the Federal Reserve (Fed) and the European Central Bank (ECB), are unlikely to further raise interest rates for two robust currencies, the USD and EUR. There is speculation that these central banks may even consider reducing interest rates in the upcoming two quarters. This anticipation has fostered investor confidence in the continued growth of the gold market.
Despite the weakened USD, experts note a significant reduction in the costs associated with speculating on and transacting in gold. However, investors are advised to exercise caution. While a weakened USD and the prospect of lower interest rates may bolster economic growth, there is a possibility that gold's role as a safe haven for cash flow could diminish. Currently, the substantial SPDR fund, having engaged in net buying on December 13, opted to take a modest profit during the session on December 14. The influx of profits from precious metals is expected to exert downward pressure on gold prices. Consequently, investors are advised to capitalize on profits when gold is yielding positive returns.
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