The gold market has been closely monitoring the release of US GDP and PCE data on 27th November 2024. Today’s weak data has raised concerns about the US economy and sparked speculation about the future of the gold price.
Today’s given signal : https://t.me/calendarsignal/16134
GDP growth is an important indicator of economic health and growth, and any weaker than expected figures can significantly impact investor sentiment. The US GDP data for November 2024 showed disappointing results, which are expected to weigh on the US dollar and impact the gold price.
Additionally, the PCE price index, which measures the overall price level of goods and services purchased by consumers, also failed to meet expectations. This data point is another indicator of inflation and monetary policy decisions. Weak PCE data adds further pressure on the Federal Reserve to raise interest rates, which can have an inverse effect on the gold price.
The weak US GDP and PCE data have sparked concerns among investors about the US economy and growth prospects. Many investors view gold as a hedge against inflation and a weak dollar, and they may seek refuge in the precious metal during times of economic uncertainty.
As a result, the gold price is expected to rise in reaction to today’s weak US GDP and PCE data. Investors may seek a safe haven in gold, and its price may rise as a result. However, it is important to note that the gold market is highly volatile and subject to various factors, including geopolitical events and central bank actions.
Previous released data results :
On last US PCE Data (31-10-2024) we predict higher data, & as per that we suggest to SELL XAUUSD & as a result, we made a profit of 55 points according to the signal we gave.
Check last given signal : https://t.me/calendarsignal/15778 Performance : https://t.me/calendarsignal/15793
On last US GDP Data (30-10-2024) we predict good data, & as per that we suggest to SELL XAUUSD & as a result, we made a profit of 39 points according to the signal we gave.
Check last given signal : https://t.me/calendarsignal/15759
Performance : https://t.me/calendarsignal/15773
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