The United States Gross Domestic Product (GDP) plays a crucial role in influencing the price of gold. This document explores the correlation between the US GDP and gold and examines the factors that contribute to this relationship.
Today’s given signal : https://t.me/calendarsignal/11708
Gold Price and US GDP on April 25, 2024
On April 25, 2024, the good US GDP is expected to have a positive effect on the price of gold. A strong GDP growth rate suggests that the US economy is healthy and performing well. This positive economic environment can create confidence in the overall market, reducing the need for safe haven assets like gold.
Moreover, lower interest rates are likely to persist on that day. The Federal Reserve has been maintaining accommodative monetary policy to stimulate economic growth. This, coupled with a positive GDP reading, can further contribute to a decline in gold prices.
Additionally, the US dollar is expected to remain relatively stable on April 25, 2024. The currency has been gaining strength against other currencies, making gold more expensive. However, the good US GDP may offset this effect to some extent, limiting the negative impact on gold prices.
In summary, the good US GDP on April 25, 2024 is expected to have an inversely proportional effect on the price of gold. A positive GDP reading, coupled with lower interest rates and a stable dollar, can contribute to a decrease in gold prices. Investors should monitor these factors closely to gain insights into potential gold price movements on that day.
Previous released data results :
On last GDP data (28-3-2024) we predict to BUY XAUUSD as for lower US GDP number price was raised.
Check the previous blog : https://blog.forextrade1.co/impact-of-the-us-gdp-on-the-gold-pair-28-3-2024/
Check last given signal : https://t.me/calendarsignal/11147
Performance :
