What does gold price promise in the new week?

Hello dear friends! So it seems like we have just gone through a week with a lot of market fluctuations, right? Currently, in the morning trading session on September 11th, the price of gold decreased by 0.02% to $1,918.3 per ounce. However, it quickly returned to the price level of $1,922 and traded relatively stable at this range.

It can be seen that gold prices slightly declined in the early week trading session while some strong economic activities will continue to support the USD. This has caused gold to remain trapped within its current trading range.

"The USD is still in a good position for further upward movement and that will pose challenges for gold. Gold will have its shining days but not this week."

Finally, I wish you all a new week filled with luck and great victories.

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There are growing expectations that the ECB will leave interest rates unchanged, not because inflation is under control but because the threat of recession continues to grow.

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Europe's slowing economy makes the dollar more attractive to investors.

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At the time of the survey, the US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased slightly by 0.25%; to 104.85.

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In a survey, the number of experts who thought gold would decrease was 38%. Meanwhile, 47% of retail investors expect gold prices to increase and the rest expect gold to go sideways