The release of lower USD retail sales data on 15th August 2024 has influenced the gold prices today. This report serves as a key indicator for the Federal Reserve’s monetary policy decisions and affects investors’ sentiment towards gold.
Today’s given signal : https://t.me/calendarsignal/14508
USD Retail Sales Data
The USD retail sales data released today showed a decline in consumer spending, which weighed heavily on the overall economic growth in the United States. The figures disappointed market analysts and raised concerns about the strength of the American economy.
US Dollar Weakens
In response to the disappointing USD retail sales data, the US dollar weakened against major currencies. This led to a decline in the value of the dollar index, which measures the US dollar against a basket of global currencies. As the dollar weakened, investors sought alternative assets, such as gold, as a hedge against inflation and uncertainty.
Gold Prices Surge
The decline in the US dollar’s value had a positive impact on gold prices. Gold, which is often seen as a safe-haven asset, saw its price rise as investors turned to it as a store of value in times of economic uncertainty. This increase in gold prices was driven by a combination of factors, including the weak USD retail sales data and overall market sentiment.
Previous released data results
On last Retail sales data (16-7-2024) we predict to SELL XAUUSD as for good data, XAUUSD price was fall.
Check last given signal : https://t.me/calendarsignal/13769
Performance : https://t.me/calendarsignal/13767
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