Commodities Analysis by Fawad Razaqzada covering: XAU/USD, US Dollar Index Futures, Gold Futures. Read Fawad Razaqzada's latest article on Investing.com
For less than $8 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttoncontinued its impressive streak, marking its seventh consecutive month of gains. This performance has led to a 22% increase for the year.
There are few compelling reasons to short gold right now. Some analysts argue that gold may still be undervalued, especially considering the devaluation of fiat currencies and the loss of purchasing power due to ongoing high inflation in various regions. If, however, job growth is weaker than expected—say around 100,000 new jobs—with a potential rise in the unemployment rate, the dollar could weaken further, pushing gold prices up sharply as markets adjust expectations towards a possible 50 basis point rate cut by the Fed.Recent mixed PMI data from China’s manufacturing sector have kept investors uncertain about the state of the world’s second-largest economy.More evidence of recovery in China is needed.
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