The price of gold is rising again. IN Monday, the precious metal's valuation again exceeded the level of USD 5,000. per ounce and currently oscillates at 5.03 thousand. hole.
The rest of the article below the video:
Kelvin Wong, senior market analyst at OANDA, points out that the observed increases may be the result of a short-term correlation between the weakening of the dollar and the strengthening of precious metals. The value of the US dollar fell to its lowest level since February 4, making gold valued in this currency become more attractive to foreign buyers.
KCM principal analyst Tim Waterer noted that gold exceeding the 5,000 level hole. it may also be the result of bargain hunting among investors.
Expectations regarding US data and Fed policy
This week, the markets' attention is focused on the release of employment and consumer prices data in the US. Investors expect that the Federal Reserve will decide on at least two interest rate cuts by 25 basis points in 2026, the first of which would take place in June.
Read also: Gold is breaking price records and running out. Scientists say when it may run out
Traditionally, precious metals that do not generate income become more attractive in conditions of low interest rates.
Tim Waterer points out that Weaker employment data may further support rising gold prices. At the same time, he noted that the Fed would probably not decide to cut rates before mid-year unless labor market data began to deteriorate rapidly.
Read also: Silver and gold prices influenced by world events. Experts have new predictions
San Francisco Federal Reserve President Mary Daly indicated on Friday that further interest rate cuts may be necessary to alleviate the weakening labor market.
