The return of gold prices:
Gold prices rose on Wednesday, but continued to move within a narrow range,
as investors awaited US economic data for more clarity on the US Federal Reserve’s interest rate path.

Topic

gold

US stocks

Australian dollar

gold

Investors’ attention this week will be focused on US GDP data scheduled for Thursday,
and the Personal Consumption Expenditures (PCE) report scheduled for Friday.

US stocks

A good rise in US stocks during yesterday’s trading:
The Wall Street trading session ended on Tuesday with a rise, with positive results recorded for major companies, and investors focusing on the quarterly results of the seven largest companies and other stocks of giant, fast-growing companies.
Tesla opened a series of earnings results from the giant technology companies after the markets closed on Tuesday, announcing the launch of new models of electric cars and achieving quarterly revenues that did not reach analysts’ expectations. Its shares rose six percent in extended trading.
These events are expected to be followed later in the week by the emergence of results for other large technology companies, such as Microsoft, Alphabet, and Meta Platforms.

Australian dollar

The Australian dollar rises due to inflation data:
The Australian dollar witnessed a broad rise in Asian markets on Wednesday against a group of global currencies, and continued to achieve gains for the third day in a row against the US dollar, reaching its highest level in two weeks, as a result of strong inflation data in Australia.

These data renewed inflationary pressures on monetary policy makers at the Reserve Bank of Australia, increased the likelihood of interest rates remaining at “elevated” levels for a longer period of time, and almost ended expectations for a rate cut in Australia during this year.

The return of gold prices

The return of gold prices

Related Topics