How to grasp the impact of news on GOLD?
Here we will use the United States as an example since it is a major world economy with significant influence and weight.
Point 1: Release of important data
For instance, the release of US non-farm payroll (NFP), employment data (ADP), initial jobless claims, CPI, GDP, PMI, etc. all have varying degrees of impact on the price of gold.
Often, the release of this important data will trigger fluctuations in gold prices. Generally speaking, when the US dollar rises, gold falls, and when the US dollar falls, gold rises. However, there may be synchronous situations, which are very rare. If this occurs, investors need to analyze and consider it carefully.
For instance, the weakness of the US dollar often pushes up the price of gold, as the decline in the US dollar can allow investors who use non-US currencies as their base currency to buy cheaper gold with other currencies. It can also stimulate demand for gold, especially in the consumption of gold jewelry.
Point 2: Speeches by some important officials
For example, speeches by well-known officials such as those from the Federal Reserve and the US Treasury.
Undoubtedly, speeches by officials from different countries are a significant factor influencing the trend of gold prices, but the impact of officials' positions, identities, and the content of their speeches on the gold market varies in magnitude.
The above two points are a few of the news contents that have a significant impact on the price of gold. In addition, other economic data in the United States should also be noted as they all mutually influence and relate to each other.
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