Russia-Ukraine Tensions Escalate, Pushing Up Gold Higher
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The prospect of renewed Russian military action against Ukraine, along with U.S. stocks closing sharply lower for a second straight session on Friday and U.S. consumer confidence falling to a 10-year low in February, supported gold prices. However, gold’s gains have also been limited as the dollar strengthens and the Fed’s increasingly hawkish stance occurs. In the case of the bullish and bearish battle of gold prices, the market is concerned about various important data released this week.
The trend of gold can be paid attention to the U.S. January PPI, the monthly rate of retail sales of U.S., the number of jobless claims, and the minutes of the Federal Reserve’s monetary policy meeting to be released on this week, will affect the trend of gold, and investors must seize the opportunity to place orders.
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