Gold continues its favoured trend and reaches new record levels:
The price of gold rose above $2265 per ounce, continuing its ascent to record levels after weaker-than-expected
US inflation data bolstered bets that the Federal Reserve will begin cutting interest rates in June.

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Key economic data and events expected this week

Oil rises

Gold continues its favoured trend and reaches new record levels

Key Economic Data and Events Expected This Week

This week will be very busy in the United States as investors focus on the labour market report,
which includes the non-farm employment report and the unemployment rate.

Other important data include JOLTS job openings and the ISM Manufacturing and Services Indexes.

Globally, market participants will closely monitor inflation rates for March from Germany, the Eurozone, and Switzerland.

Oil Rises as OPEC+ Meeting Approaches

Brent crude futures rose above $87 per barrel,
reaching their highest levels in more than a week as investors look forward to the OPEC+ meeting.

The group is expected to review market fundamentals and member compliance with production targets,
with widespread expectations that they will maintain current production policies.

Elsewhere, investors continued to assess the impact of Ukrainian drone strikes on Russian refineries
and peace efforts in Gaza on supply outlooks.

On the demand side, official data showed that Chinese
manufacturing activity expanded for the first time in six months in March,

boosting demand expectations for oil in the world’s largest crude oil importer.

Gold Continues Its Favored Trend and Reaches New Record Levels

The price of gold rose above $2265 per ounce,

continuing to climb to record levels after weaker-than-expected US inflation data
increased bets that the Federal Reserve will start cutting interest rates in June.

In remarks, Federal Reserve Chair Powell confirmed on Friday that the central bank
is not hurrying to cut interest rates,
stating that the latest personal consumption expenditures inflation data aligned
with what the Federal Reserve wants to see.
He mentioned that even a rise in inflation figures would not have an impact,
but the door to interest rate cuts would be a significant drop in employment numbers.

Lower interest rates reduce the opportunity cost of holding bullion, increasing its investment value.

Gold continues its favoured trend and reaches new record levels

Gold continues its favoured trend and reaches new record levels

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