Gold Price Forecast: XAU/USD firms up at the onset of 2024, looks to US jobs data
Gold price has started off the first trading day of 2024 on the front foot, having eked out a 14% annual gain in 2023.
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Gold price has started off the first trading day of 2024 on the front foot, having eked out a 14% annual gain in 2023.
Tracing out the implied path of rates and what the BOC will be considering
Trading activity is rather subdued in the last Asian session of the year. With no major economic events on the calendar for the day, trading is expected to remain quiet. Dollar is making an attempt to recover but continues to be the weakest performer for the week. It is followed by Euro and Sterling in terms of weak performance. Conversely, Swiss Franc and Japanese Yen are standing out as the strongest currencies. Australian Dollar and New Zealand Dollar are showing slight strength, while Canadian Dollar is leaning towards the weaker side.
In a session marked by signs of year-end investor fatigue, U.S.
Expectations the Fed will cut rates as soon as March is fueling end-of-year upside in stocks.