The precious metal market is experiencing a decline in sales due to the rise of the US dollar and government bond yields.
Market expectations are that Mr. Powell will provide some indication that the US Central Bank has ended its most aggressive tightening path in 40 years and is preparing for cuts. Analysts believe that only then can gold escape its current level and make a breakthrough.
Currently, gold continues to strictly adhere to the downward trend, so trend-selling strategies will still be prioritized.
Do you think this gold price is okay? Let me know what you think in the comments below
Market expectations are that Mr. Powell will provide some indication that the US Central Bank has ended its most aggressive tightening path in 40 years and is preparing for cuts. Analysts believe that only then can gold escape its current level and make a breakthrough.
Currently, gold continues to strictly adhere to the downward trend, so trend-selling strategies will still be prioritized.
Do you think this gold price is okay? Let me know what you think in the comments below
Comment:
According to Acheron Insights analyst Chris Yates, in the current situation, another rally in the dollar could lead gold prices to continue the consolidation phase.
Comment:
While we expect Mr. Powell to issue a neutral stance at the upcoming Jackson Hole, gold is unlikely to rally in the short-term, said James Stanley, market strategist at Stone X.
