Gold trading reminder: Bulls are fighting back to the price of gold to “touch” 2400, and this week they are also being tested by US CPI and “scary data”

The price of gold climbed 0.6% last Friday to close at 2360.75 US dollars/ounce, recording the best weekly performance in five weeks. Due to recent weak US employment data, expectations for the Fed to cut interest rates were strengthened, driving the rise in non-yielding gold.

FX678 Finance06:55

Gold Prices Climb to 3-week Highs as 'Soft' U.S. Data Support Rate Cuts This Year

Gold futures climbed sharply on Friday, looking to tally their first weekly gain in three weeks, as downbeat U.S. economic data supported the likelihood of Federal Reserve interest-rate cuts this year.

MarketWatchMay 10 22:32

After rising more than $60 in two days and returning to a three-week high, why did gold's rise suddenly accelerate?

① Analyst Tim Waterer said that gold regained its appeal this week, mainly due to some weak US macro data; ② Persistent geopolitical risks may continue to support investment in gold.

cls.cnMay 10 19:23

Gold bulls have just broken out again! Gold prices surged more than 16 US dollars during the day. These factors may trigger a larger gold market

At the end of the Asian session on Friday, spot gold accelerated in the short term. The price of gold had just broken through 2,360 US dollars/ounce, surging more than 16 US dollars during the day. FXStreet analyst Lallalit Srijandorn said that gold traders will pay close attention to the preliminary value of the US University of Michigan consumer confidence index in May, as well as the speeches of Federal Reserve officials Bauman, Goulsby, and Barr.

FX168May 10 14:41

The price of gold overcomes important resistance! Gold's latest intraday trading analysis: the price of gold may still have room to soar by nearly $45

At the end of the Asian session on Friday, spot gold maintained its intraday upward trend. The price of gold is currently around 2,356 US dollars/ounce, rising more than 10 US dollars during the day. According to Economies.com, the price of gold has broken through the important resistance of $2325.90 per ounce, which opens up room for a further sharp rise in gold prices.

FX168May 10 13:33

The US Congress has proposed a key bill to completely end federal taxes on gold, silver, and gold bars!

The US Congress introduced a new bill aimed at eliminating all federal income taxes on gold, silver, and gold bars.

FX168May 10 10:43