IG: Gold prices may enter a short-term consolidation mode

On September 3, Jinshi Data News, as the market waits for new clues about interest rate cuts, the Asian gold price has slightly declined. IG analyst Jun Rong Yeap stated in a report that after reaching record highs recently, investors are waiting for a series of key economic data to be released this week. These data will guide the debate around the scale and pace of the Fed’s loose policy, and prices may enter a short-term consolidation mode. At present, gold bulls may hope to see weak US economic data this week to confirm the Fed’s future loose policy, but they should not be too weak to reignite concerns about an economic recession.