Current narrow ranges signal potential strong movement. Influences include US inflation, UK economic data, and geopolitical tensions, with focus on key levels at $2023, $2000, and $1985 per ounce.

•  According to the recent trading sessions, the price of gold is moving in narrow ranges, and this performance portends a strong upcoming movement in one of the two directions.
• The announcement of US inflation figures and a package of important British economic data, in addition to the course of global geopolitical tensions, may be all factors that may shape the next movement for the price of gold, which will stabilize around the level Resistance is $2023 per ounce at the time of writing the analysis. 

(Click on image to enlarge)

In the bond market, which moves the price of gold alongside the price level of the US dollar, yields were moving very little. The yield on 10-year Treasury bonds fell to 4.16% from 4.18%, late Friday. The two-year Treasury yield, which more closely tracks expectations for the US Federal Reserve, was steady at 4.48%, where it was late Friday. 

Overall, US inflation has fallen enough that the Federal Reserve has hinted that it may cut its key US interest rate several times this year. Such cuts usually stimulate financial markets and the economy, and would relieve the pressure that has built up since the Federal Reserve raised its key interest rate to the highest level since 2001. They had previously hoped that interest rate cuts would begin in the month of March , traders have since postponed their forecasts to May or June. Reports showing that the US economy and labor market remain remarkably strong, along with some comments from Federal Reserve officials, are what led to the delay. 

And on the US economy... The quarterly economic and local business sector that is the only one in the United States is in a recession this year. He then discovered that any start would be triggered by a shock – such as China’s – rather than by attracting new customers such as rising interest rates. But participants in the National Economic and Business Association's shareholder mandate, released Monday, would like them to benefit from a 2.5% annual basis — above the 2% reserve target — through 2024. 

Five years ago, most of them predicted that the US economy - the largest in the world - was heading into recession, as monetary policies lifted the widespread inflationary monetary policies that began in 2021. The Fed delayed its benchmark interest rate by 11 times from March 2022 to July. 2023, reaching the highest level in more than two decades. It decreased from 9.1% in June 2022 to 3.4% in December. But the economy continues to grow unexpectedly, hiring jobs and furloughing employees despite longer rising costs. 

Gold Price Plan Today: 

According to the performance on the daily chart, the lowest gold price is in a neutral position with the millionaires, and the bears will strengthen and strengthen against the immigrants in the event that gold prices move towards the support levels of 2000 and 1985 dollars per ounce, respectively, and this will succeed if the numbers come and move stronger than all that continues and supports Paul Bank’s tightening path. At the same time, my American central bank is still better at buying gold from every downward level, as global geopolitical tensions are a fertile fight for gold in achieving the desire to focus on stopping. In addition, global banking markets are supported by gold as well. On the other hand, over the time period, bulls will strengthen the gold trend again if prices move to reach the levels of 2055 and 2070 US dollars, respectively. 

More By This Author: