FXStreet Chief Analyst: Gold is ready to resume its rise! This scene may stimulate the price of gold to break through 2,400 US dollars

In the Asian market on Friday, spot gold maintained a slight rebound trend during the day. The price of gold is currently around 2,379 US dollars/ounce. FXStreet chief analyst Valeria Bednarik pointed out that the price of gold was revised from around 2,400 US dollars/ounce and seemed ready to resume the rise. Gold's goal remains to retest the $2,400/oz area.

FX16812:29

Gold and silver join hands with platinum to “go wild”! Is the hot market that belongs to them unfinished?

The strategists said there is still room for further growth in gold, silver, and platinum! Precious metals prices rose sharply on Wednesday. The lower than expected CPI inflation data released by the US and the successive increase in the number of initial jobless claims brought back expectations of the Federal Reserve's interest rate cuts.

Zhitong Finance09:45

Silver's “flood power” begins to be unleashed. Be careful when rising easily and violently

Investors are beginning to notice the hidden power of silver at work. “Buying gold is better than buying silver first.”

Golden10 Data09:13

Is the upward trend continuing? The strategist shouted: Gold and silver will soon reach new highs!

Gold, silver, and platinum have been rising so far this year, and some strategists believe these precious metals will rise further in the coming months.

Golden10 Data08:48

Never seen before! The West has set off a “historic gold hedging incident” with strong signals from analysts: TA has surpassed fundamental influence

Analysts said that the market opener effect is likely to be the next major event in the historic structural change of gold.

FX16808:17

US economic data sparks precious metals rebound, and most institutions are optimistic that the market will continue to strengthen in the future

Precious metals prices made their own gains on Wednesday (May 15). The US inflation data released on the same day slowed as expected, boosting market confidence in the Fed cutting interest rates earlier, suppressing the US dollar while boosting precious metals denominated in US dollars.

cls.cn01:44