Core Viewpoint - The CEO of the Royal Bank of Canada anticipates that the Bank of Canada will continue to adopt a more dovish stance to boost consumer confidence and economic growth [1] Group 1 - The Royal Bank of Canada is projecting a shift in the Bank of Canada's monetary policy towards a more accommodative approach [1] - The expectation is that this dovish stance will positively impact consumer sentiment and stimulate economic activity [1]

Core Viewpoint - The CEO of the Royal Bank of Canada anticipates that the Bank of Canada will maintain a more dovish stance to boost consumer confidence and economic growth [1] Group 1 - The expectation of a dovish monetary policy is aimed at enhancing consumer confidence [1] - The approach is also intended to stimulate economic growth in Canada [1]

Core Viewpoint - The current decline in gold prices is influenced by upcoming Federal Reserve interest rate decisions, with market participants expecting rates to remain unchanged at a high probability of 98.1% [3] Market Analysis - As of May 7, gold prices have dropped to $3383.57 per ounce, reflecting a decrease of 1.37% from earlier highs [1] - The highest price reached was $3437.49 per ounce, while the lowest was $3359.78 per ounce during the trading session [1] - The recent economic data, including a slowdown in core PCE inflation to 2.6% and strong employment figures, has alleviated some market concerns regarding inflationary pressures [3] Trading Strategy - The market anticipates a potential upward movement in gold prices if the Federal Reserve adopts a dovish stance, suggesting possible rate cuts [3] - Conversely, if the Fed maintains its current rate, it could strengthen the dollar and exert downward pressure on gold prices [3] - Current trading strategies suggest monitoring the price range between $3350 and $3404 for potential high-low trading opportunities, with a focus on support levels at $3350 and $3290 [6]