Gold Prices Steady amid Disappointing Global PMI Data and Deteriorating US Economic Outlook; Bitcoin Hovers above $30,000, Await Regulatory Updates
![Gold Prices Steady amid Disappointing Global PMI Data and Deteriorating US Economic Outlook; Bitcoin Hovers above $30,000, Await Regulatory Updates](https://admin.es-fxmag-com.usermd.net/api/image?url=media/pics/gold-prices-steady-amid-disappointing-global-pmi-data-and-deteriorating-us-economic-outlook-bitcoin-hovers-above-30-000-await-regulatory-updates.jpeg&w=1200)
Gold prices are steadying following disappointing global PMI data and on expectations the US economic outlook could start to deteriorate more quickly. Gold should find a home above the $1900 level on weaker growth expectations following the headlines on student loan debt, tougher times for small and medium size businesses, and potentially a stop and go Fed rate hiking cycle.
Bitcoin hovers above the $30,000 as traders sift through a plethora of fake news and await a meaningful update on the regulatory front. Over the weekend, false reports circulated that SEC Chair Gensler was going to resign after an internal investigation. Crypto traders are growing impatient, but it might be a while before we get some meaningful news regarding Grayscale’s lawsuit or further Bitcoin ETF clarity. Bitcoin appears to be stuck in a range again, trading between $28,000 and $31,500.