Gold in 2024: Navigating Uncertainty and Embracing Opportunities
Global gold prices have reached historic highs this month, extending a year-end surge that may persist if the anticipated slowdown in the US economy materializes, according to a report from the World Gold Council. In its 2024 outlook, the market development group for the global gold industry presented potential scenarios for the upcoming year. The two most likely outcomes - a soft economic landing or a recession - both suggest an upward trajectory for gold prices.
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Dow's Upward Surge, Currency Movements, and Gold's Reaction to Global Dynamics | Daily Market Analysis
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Dow Surges on Inflation Relief, Tech Stocks Rally; RBA's Rate Hike and Gold's Resilience in Focus | Daily Market Analysis
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Market Resilience Amid Inflation Concerns, Exxon's $59.5 Billion Deal, and Gold's Rally | Daily Market Analysis
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Global Markets React to Economic Concerns and Fed's Rate Hike Speculations as Gold Prices Decline | Daily Market Analysi
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Global Markets Remain Stable Amid Earnings Anticipation and Central Bank Meetings | Daily Market Analysis
Key events: Australia - RBA Interest Rate Decision (Aug) UK - S&P Global/CIPS UK Manufacturing PMI (Jul) USA - ISM Manufacturing PMI (Jul) USA - JOLTs Job Openings (Jun) On Monday, Wall Street and global stocks showed minimal changes, remaining relatively stable. However, oil prices experienced some gains, and the dollar remained mostly steady. Traders were focused on upcoming corporate earnings, central bank meetings, and an important employment report scheduled for this week.
Tech Giants Report Earnings Disappointments while Dow Soars; Fed's Rate Hike Decision and Economic Reports Await | Daily Market Analysis
Key events: UK - Retail Sales (MoM) (Jun) Canada - Retail Sales (MoM) (May) On Thursday, both the S&P 500 and Nasdaq experienced declines due to the disappointing quarterly results of Tesla (NASDAQ: TSLA) and Netflix (NASDAQ: NFLX). However, the Dow managed to continue its positive streak for the ninth consecutive day, thanks to Johnson & Johnson (NYSE: JNJ) posting a strong annual forecast, which boosted its share prices.
Markets React to Corporate Earnings and Economic Data, Gold Surges to Near Six-Week High | Daily Market Analysis
Key events: UK - CPI (YoY) (Jun) Eurozone - CPI (YoY) (Jun) USA - Building Permits (Jun) USA - Crude Oil Inventories Investors celebrated Tuesday as the S&P 500 surged, driven by better-than-expected quarterly results from several major corporations, including prominent Wall Street banks.
US Stock Indices Gain as Bank Shares Surge, Fed's Positive Stress Test Results Drive Optimism | Daily Market Analysis
Key events: UK - GDP (YoY) (Q1) UK - GDP (QoQ) (Q1) Eurozone - CPI (YoY) (Jun) USA - Core PCE Price Index (MoM) (May) On Thursday, US stock indices experienced slight gains as bank shares surged following the Federal Reserve's positive outcome of the annual stress test. Additionally, robust economic data fueled expectations of further interest rate hikes by the central bank.
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