Insider’s Guide to the Latest Trends in Gold and Crypto Markets 📈🪙
Are you an investor who is keen on keeping up with the latest trends in the gold and crypto markets? Look no further! Here’s a comprehensive overview of the recent happenings in the world of commodities and digital assets, tailored just for you.
Spot Gold and US Yields Update 🪙📊
– Spot gold extended its rally, reaching $2378 before closing at $2360 with a 0.59% gain.
– The rise was attributed to rate cut hopes and a 2.60% weekly increase.
– US ten-year yields closed nearly 0.75% higher at 4.50%, with two-year yields up to 4.87%, hitting a weekly high.
– The US Dollar Index closed at 105.32, up 0.10% on Friday and 0.30% for the week.
Data and Event Roundup 📉📈
– University of Michigan reported one-year inflation expectations at 3.50% and 5–10-year expectations at 3.10%, surpassing forecasts.
– The sentiment index dropped to 67.40 amidst high inflation and interest rates, raising stagflation concerns.
– US weekly jobless claims surged to the highest level since August, partially impacted by the closure of New York schools.
Fedspeak: Insight into Monetary Policy 🗣️🏦
– Federal Reserve officials shared varying opinions on inflation and rate cuts, with some leaning towards a slightly hawkish stance.
– The dissatisfaction with inflation data and calls for patience in policy adjustments were highlighted.
ETF Holdings Snapshot 📊
– Total global gold ETF holdings declined to 80.606 MOz, reflecting a consecutive decrease from the previous week’s level.
Upcoming Data Releases 📆
– Key US data to be released includes PPI, CPI, retail sales advance, housing starts, industrial production, and Philadelphia Fed business outlook for May.
– Euro-zone and UK data will cover industrial production, CPI, and employment statistics, while Asian focus will be on China’s PPI, CPI, and Japan’s Q1 GDP.
China’s Gold Reserves and Geopolitical Situation 🔍🌐
– China’s gold buying continued in April but at a slower pace, signaling a bearish sentiment for the metal.
– Geopolitical tensions in Israel and Hamas have escalated, potentially bolstering gold prices.
Weekly Outlook for Gold and Crypto Investors 🤔💰
– The upcoming US CPI data release will be pivotal for gold prices, influenced by inflation trends and Fedspeak.
– Market support and resistance levels for gold were outlined, with a forecast of a potential correction next week.
Hot Take: Expert Commentary and Insights 📉💡
– As an Associate Vice President at Sharekhan by BNP Paribas, the author provides valuable insights on the current market trends, offering a nuanced perspective on the gold and crypto markets.
Stay informed and proactive in your investment decisions by staying updated on the latest market developments!
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