XAUUSD: Soaring

XAUUSD: Soaring Gold OANDA:XAUUSD Charles_Ryder Hello all dear traders! Overall, gold experienced significant volatility yesterday with the price rising above the $2,328 level, completely abandoning the previous corrective trend in the price wedge shown on the H4 chart. It is currently trading steady around $2,350 and is up 0.15% on the day. So what are the factors driving gold? Speaking of trends: Gold prices continued their upward trend on Thursday as yesterday's data showed signs of a weakening job market, reinforcing expectations that the Fed will lower interest rates sooner than expected. This sentiment supports precious metals markets. Conclusion: US employment data supported gold prices. Shelter buying appeared Next week, investors will receive the US consumer price index (CPI) report. This metric has the potential to have a major impact on asset markets. It is expected that this price increase will be 2400 USD supported by 2 EMA lines 34.89

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