Economic calendar for gold February 12-16, 2024
The upcoming week, spanning from February 12th to 16th, 2024, holds significant promise for the gold market as positive economic news is expected to bolster its performance.
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| Positive Economic News Boosts Gold Outlook for the Week of February 12-16, 2024 |
Additionally, there exists an opportune moment for buying gold from the demand zone at 2019. Let's delve into the key economic events driving optimism for gold and the potential trading opportunity it presents.
In this article, we will explore :
- Cost of Gold Today
- Positive Economic News Driving Gold Outlook
- Opportunity for Gold Buying from Demand Zone
- Economic Calendar for Gold
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
Positive Economic News Driving Gold Outlook:
- Feb 12 - Tue:
GBP: Claimant Count Change
USD: Core CPI m/m, CPI m/m, CPI y/y
- Feb 13 - Wed:
GBP: CPI y/y
- Feb 15 - Thu:
AUD: Employment Change, Unemployment Rate
GBP: GDP m/m
USD: Core Retail Sales m/m, Retail Sales m/m, Unemployment Claims
- Feb 16 - Fri:
GBP: Retail Sales m/m
USD: Core PPI m/m, PPI m/m
These economic indicators, ranging from inflation data to employment figures, are anticipated to have a positive impact on the gold market. Lower-than-expected inflation rates and stable employment conditions tend to increase demand for gold as a hedge against economic uncertainties. Moreover, positive GDP figures and retail sales data indicate a healthy economic environment, which may lead to heightened investor confidence in gold as a store of value.
Opportunity for Gold Buying from Demand Zone:
Amidst the favorable economic outlook, traders can capitalize on a buying opportunity for gold from the demand zone at 2019. This zone represents a significant level of support where buyers are likely to step in, leading to potential price appreciation. By strategically entering a long position from this demand zone, traders can aim to profit from the anticipated bullish momentum in the gold market.
The week of February 12-16, 2024, presents a promising outlook for gold price, supported by positive economic news and key events influencing market sentiment. Investors and traders should closely monitor the economic indicators mentioned above to gauge market dynamics and potential opportunities in the gold market. Furthermore, the buying opportunity from the demand zone at 2019 offers traders a strategic entry point to capitalize on potential price gains. As market conditions evolve, staying informed and adapting trading strategies will be essential for maximizing returns in the dynamic gold market landscape.
Economic calendar for Gold
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