Gold price today 7/8: Low price, increased trading
On the world market, gold price traded at 1,938 USD/ounce.
The non-farm sector added 187,000 jobs in July. However, this was lower than the previous forecast of 205,000 jobs. The not so positive economic and employment information has made investors return to buy gold to hedge against risks to capital flows.
Gold prices still have room to increase. The reason is that the recently released US economic data has weakened, prompting central banks to aggressively buy gold to hoard.
The non-farm sector added 187,000 jobs in July. However, this was lower than the previous forecast of 205,000 jobs. The not so positive economic and employment information has made investors return to buy gold to hedge against risks to capital flows.
Gold prices still have room to increase. The reason is that the recently released US economic data has weakened, prompting central banks to aggressively buy gold to hoard.
Comment:
Inflation data to be released soon will play an important role in shaping the market trend in the near future.
Comment:
Last week, gold prices turned to rise after falling to a very low level of 1,926 USD/ounce. This is a positive signal that opens the way for the next uptrend of gold.
