Another Downturn for Gold as $2K Becomes Support

<div><img width="750" height="430" src="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/09113648/Another-Downturn-for-Gold-1.png" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Another-Downturn-for-Gold" decoding="async" loading="lazy" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2024/01/09113648/Another-Downturn-for-Gold-1.png 750w, https://assets.iorbex.com/blog/wp-content/uploads/2024/01/09113648/Another-Downturn-for-Gold-1-300×172.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></div><p>Gold prices have trended lower so far this year, with some pessimism still lingering over the Fed.</p>
<p>With inflation still hanging over the economy, all eys will be on the upcoming CPI data to see if inflation remains sticky.</p>
<p>Although the FOMC has signalled that it would cut borrowing costs, there is still the question if this will happen sooner rather than later.</p>
<p>Timestamps<br />
XAUUSD 01:25<br />
DXY 02:45</p>
<p>The post <a href="https://www.orbex.com/blog/en/2024/01/another-downturn-for-gold-as-2k-becomes-support">Another Downturn for Gold as $2K Becomes Support</a> appeared first on <a href="https://www.orbex.com/blog/en">Orbex Forex Trading Blog</a>.</p>