Economic Events Impacting Gold Prices in the Week of January 20,26 2024
Cost of Gold Today
| Live Gold Price | Gold Spot Price Today |
|---|---|
| Gold Price per Gram | $65.26 |
| Gold Price per Kilo | $65,256 |
| Gold Price per Ounce(28.34 g) | $2,029.69 |
Gold Price Today : Convert Gold Ounce to US Dollar Or vice versa
Gold price chart in U.S. Dollar per ounce, Live gold price chart
Economic news Impacting Gold Prices in the Week of January 20,26 2024
Tuesday, January 23:
JPY - Monetary Policy Statement:
On this day, the Bank of Japan (BOJ) is set to release its Monetary Policy Statement, providing insights into the central bank's stance on interest rates and its outlook on the Japanese economy. The Japanese Yen (JPY) is expected to react to any shifts in monetary policy, which may subsequently impact gold prices.
JPY - BOJ Outlook Report and Press Conference:
The BOJ Outlook Report, coupled with the subsequent press conference, offers a comprehensive view of the Japanese economic landscape. Any indications of economic strength or weakness may influence investor sentiment, impacting the value of the Japanese Yen and subsequently affecting gold prices.
NZD - CPI q/q:
New Zealand's Consumer Price Index (CPI) quarter-on-quarter data will be released. This economic indicator measures inflation and can influence the New Zealand Dollar (NZD). Changes in the NZD can have a cascading effect on gold prices.
Wednesday, January 24:
EUR - Main Refinancing Rate and Monetary Policy Statement:
The European Central Bank (ECB) will announce its Main Refinancing Rate and provide a Monetary Policy Statement. Any shifts in interest rates or policy outlook may impact the Euro (EUR) and consequently influence gold prices.
Thursday, January 25:
USD - Advance GDP q/q:
The release of the United States' Gross Domestic Product (GDP) data can significantly affect the US Dollar (USD) and have a corresponding impact on gold prices. Strong GDP growth may strengthen the USD, potentially leading to a decline in gold prices.
USD - Unemployment Claims:
The weekly release of Unemployment Claims data can provide insights into the labor market's health in the United States. A higher-than-expected number of claims may weaken the USD, positively affecting gold prices.
EUR - ECB Press Conference:
The ECB Press Conference following the monetary policy decisions can shed light on the central bank's economic outlook. Any surprises in the ECB's communication may influence the Euro and subsequently impact gold prices.
Friday, January 26:
USD - Core PCE Price Index m/m:
The Core Personal Consumption Expenditures (PCE) Price Index measures inflation and is closely monitored by the Federal Reserve. Changes in inflation can influence the USD and have an impact on gold prices.
As the week unfolds, investors in the gold market will closely watch these economic events and their respective currencies. The interplay between these factors can lead to fluctuations in gold prices, making it essential for investors to stay informed and adapt their strategies accordingly in response to evolving economic conditions.
Economic Calendar Impacting Gold Prices in the Week of January 20, 2024
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