Gold is trading flat compared to Monday’s open. Inflation data from the US and the Fed and ECB could give a new boost to the gold market next week, Commerzbank economists report.
Gold will be affected by three major events next week
“First, there will be US inflation data, which could turn out to be more dovish than the market expects. While this won’t influence the Fed’s rate decision tomorrow, it could in the tone of the press conference. If the market reduces its expectations regarding the rate hike cycle, this is likely to give wings to gold“.
“It is doubtful that the third major event, the ECB meeting on Thursday, will have a major effect on prices.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
