Gold Analysis News Today

EUR/USD Today: stabilizes, drawing strength from positive German Ifo data as it approaches resistance at 1.0715, signaling a potential economic turning point.

The US dollar index opens higher in Europe, aided by a weak Euro, and is back at highs seen last November. Gold is unfazed by US dollar strength and continues to print new highs.

The latest US NFPs beat expectations by a wide margin, while the closely followed unemployment rate fell. The US dollar gets a bid going into the US open.

A quiet start to the week across most markets ahead of Tuesday’s US CPI release, although Bitcoin is soaring to a fresh record high.

The US economy expanded by 3.2% according to the second estimate of US GDP released today, slightly below the initial estimate. In the third quarter the US economy expanded by 4.9%.

US inflation was reported higher-than-expected in January, sending US Treasury yields and the US dollar sharply higher.

US Fed Chair Jerome Powell poured water on a March rate cut at yesterday’s FOMC meeting but markets continue to price in an aggressive series of cuts for the rest of the year.

Gold on the verge of breaking 1700, 2022 lows under threat

Gold correction higher faces first key resistance.

Gold struggles despite USD pullback, funds net short for the first time since 2019