The United States (US) Federal Reserve (Fed) will announce monetary policy decisions and publish the revised Summary of Economic Projections (SEP), the so-called dot plot, following the June policy meeting on Wednesday.
XAUUSD
Gold price looks to high-impact US data flow
The first look of the US annualised GDP is expected to show a 0.4% growth in Q1 2025, down from a robust 2.4% expansion in the final quarter of 2024. Goldman Sachs economists expect a negative 0.2% growth.
Gold prices hit a weekly high of $2,930, now awaiting US data and Trump’s tariff news
Gold prices has entered a brief phase of upside consolidation as buyers take a breather before the next leg higher. The buying interest around the bright metal remains unabated amid sustained US Dollar (USD) weakness as increased odds of further interest rate cuts by the Federal Reserve (Fed) due to US economic slowdown concerns.
Silver: The possibility of spot buying is increasing day by day
Silver breakout in the previous session fueled strong price action (+3.5% close/close in SIH5) associated with multiple consecutive CTA (Call To Action) buying events that ultimately increased their net long to 70%, equivalent to +13% of the CTA’s maximum size, as repeated whipsaws diminished the strength of the trend signal.
Spot Gold Technical Analysis and Forecast [31-01-2025]
This Spot Gold technical analysis page includes a summary for Spot Gold. Trading zones from Strong Buy, Sell, Neutral, Sell to Strong Sell By Neal Bhai.
Spot Gold Above $2645 Next Target $2700—$2718
Spot Gold Forecast: There is a lack of clear direction for gold, “The price is declining, as indicated by the two converging trend lines. Crisscross moves around the 50-DMA indicate a lack of clear direction.”
Gold Forecast: China’s central bank is buying more gold
China’s central bank added to its Gold reserves for a second month in December.