Gold has surged to record highs above $2,400 an ounce in 2024, with China at the forefront of the remarkable ascent. Geopolitical tensions and lower US interest rates have bolstered gold s appeal as an investment. Chinese demand, spanning retail shoppers to the central bank, continues to drive the rally.
Wednesday's U.S. inflation report has the potential to cause significant volatility, so traders should prepare for the possibility of treacherous market conditions, especially if the incoming data surprises to the upside.
This article offers a comprehensive review of retail sentiment on the U.S. dollar, focusing on three key popular pairs: EUR/USD, GBP/USD and USD/CHF. Additionally, we assess potential directional outcomes from the vantage point of contrarian signals.
Gold price in the international market touched a two-month low of around $1,992 per ounce level due to higher-than-expected US CPI data. However, some value buying enabled the metal to regain some ground