World gold prices today continued to fluctuate strongly after a series of consecutive increases and decreases, reflecting the cautious sentiment of investors in the face of monetary policy signals and fluctuations of the USD. The gold market is entering a sensitive phase, when bottom-fishing buying pressure appears but profit-taking pressure is still present.
In the latest trading session, spot gold price was at 4,966.26 USD/ounce, slightly up compared to previous sessions. Compared to the historical peak set at the end of last month, gold price has adjusted significantly, showing that the hot upward momentum is being "cooled down" by the market.
USD and policy expectations continue to dominate
The diễn biến of world gold prices today is greatly influenced by the USD. After a period of strong weakness, the greenback shows signs of stabilizing again, causing demand to hold gold to somewhat decline. As the USD recovers, gold becomes more expensive for investors holding other currencies, thereby creating downward pressure.
In addition, expectations about US monetary policy are still a key factor. The market is closely monitoring the management direction of the US Federal Reserve (Fed) in the context that inflation has not completely cooled down, while economic growth shows signs of slowing down. These mixed signals make cash flow on the gold market become cautious.
Profit-taking after a period of hot growth
Before the adjustment, gold prices had gone through a rare period of strong increase, supported by safe-haven demand, geopolitical instability and central bank buying activities. However, when prices increase too quickly in a short period of time, profit-taking is inevitable.
Many short-term investors have taken advantage of selling to preserve profits, especially when technical indicators show that the market is falling into a state of over-buying. This makes gold prices, despite showing rallies during the session, not strong enough to form a sustainable upward trend.
Short-term outlook still volatile
Despite strong adjustments, many experts believe that the long-term trend of gold has not been broken. Foundation factors such as high public debt, complex geopolitics and central bank demand for gold still play a role in supporting the market.
However, in the short term, world gold prices are forecast to continue to fluctuate strongly, depending on the developments of the USD, US economic data and policy signals from the Fed. The market is in the process of finding a new balance point.
