Gold movements today and forecast for the future
The current trading price of gold today is around $1935 per ounce, experiencing a decrease of $3.76 per ounce compared to the previous trading session.
Recent lackluster economic data from the United States suggests that it is unlikely for the Federal Reserve (Fed) to raise interest rates at their upcoming meeting this month. This will be beneficial for the gold market.
According to CME's FedWatch tool, the probability of the Fed keeping interest rates unchanged in September has increased from 89% to 93%. As a result, precious metals are expected to rise based on upcoming economic data and may trade within a range of $1975 - $1985 per ounce.
Recent lackluster economic data from the United States suggests that it is unlikely for the Federal Reserve (Fed) to raise interest rates at their upcoming meeting this month. This will be beneficial for the gold market.
According to CME's FedWatch tool, the probability of the Fed keeping interest rates unchanged in September has increased from 89% to 93%. As a result, precious metals are expected to rise based on upcoming economic data and may trade within a range of $1975 - $1985 per ounce.
Comment:
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