The Commodity Futures Trading Commission (CFTC) has reported that gold non-commercial net positions increased to $213.1k, up from $203k. This indicates growing trader interest and speculation in the gold market. During the American session on Friday, the EUR/USD pair rose above 1.1650, supported by a decline in US consumer inflation expectations. The GBP/USD also gained momentum, surpassing 1.3450 as the US dollar weakened and market sentiments shifted.

Gold Prices And Cryptocurrency Trends

Gold prices increased, staying above $3,350 as the US dollar and Treasury bond yields fell. In the cryptocurrency space, Bitcoin traded above $120,000, while Ethereum approached $4,000, and Ripple reached a new high of $3.66. China’s GDP grew by 5.2% year-on-year in the second quarter, exceeding expectations due to strong trade and industrial output. However, there are concerns about slowing growth in fixed-asset investment and retail sales, along with falling property prices. Several forex brokers are highly recommended for trading EUR/USD in 2025. These brokers provide competitive spreads, fast execution, and reliable platforms for both new and experienced traders navigating the forex market. The recent rise in net long positions reported by the CFTC shows increasing speculation in gold. The latest Commitment of Traders report indicates that this number has now surpassed 230,000 contracts, a high not seen in months. This suggests that buying call options or establishing long futures contracts could be a smart way to capitalize on potential gains.

Opportunities With A Weaker US Dollar

The broad weakness of the US dollar offers clear opportunities in foreign exchange markets. A recent University of Michigan survey revealed a drop in year-ahead consumer inflation expectations to 3.3%, indicating a less aggressive Federal Reserve and a softer dollar. This scenario suggests that now is a good time to build on long EUR/USD and GBP/USD positions. While China’s 5.2% GDP growth is promising for global trade, we need to be cautious of its economic issues. Data from the National Bureau of Statistics shows that retail sales and fixed-asset investment growth isn’t keeping up, and the property market is still struggling. This could lead to volatility that might dampen optimistic views. Historically, falling US Treasury yields tend to support non-yielding assets. The current drop in yields, alongside a strong rally in cryptocurrencies, highlights a widespread search for returns outside of the dollar. This trend confirms the prevailing market direction. Create your live VT Markets account and start trading now.

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