Last weekend, the U.S. employment data showed strong results, which caused U.S. long-term interest rates to rise again yesterday. Additionally, the NY Dow rebounded sharply, increasing risk-on sentiment. As a result, gold dropped to 2657. Although some buying back was observed afterward, the price remains under pressure and struggles to rise.
Today, the U.S. Producer Price Index (PPI) will be announced. However, with the Consumer Price Index (CPI) coming tomorrow, no major price movement is expected today.
That said, as expectations for a Federal Reserve rate cut decrease, the dollar remains strong. This strength may continue to weigh on gold prices for now.
Gold-Dollar Predicted Range: 2670–2640
Note: The above content is not a guarantee of profit. Please make your own decisions when trading.