In the world market, spot gold price on Kitco floor tends to increase when trading at 1,962 USD/ounce. Analysts said that the gold market will not have a new breakthrough, but the trend will still increase in the near future. According to analysts, the tough monetary policy stance of the US Federal Reserve (Fed) weakens the economy. Kevin Grady, President of...
The U.S. Commerce Department said the core personal consumption expenditures price index rose 0.2 percent last month, 0.1 percent lower than May's 0.3 percent gain. increase in line with economists' expectations. Inflation in the past 12 months increased by 4.1%, down sharply from the increase of 4.6% in June 2023. Annual inflation also fell slightly more than...
The world gold price continued to increase slightly today due to the tough monetary policy stance of the US Federal Reserve (Fed). Kevin Grady, President of Phoenix Futures and Options, said that gold prices remained at current levels, despite the reaction to upcoming economic data. Just a small sign of economic weakness will also support gold prices. In the...
Spot gold price increased by 0.28% to $1,948.9 per ounce in the morning session on August 2, as reported by Kitco. The gold price for December delivery also rose by 0.38% to $1,986.25. Gold prices dropped by 1% on Tuesday due to the rise in the dollar and US government bond yields. Investors are eagerly waiting for US economic data to gauge the progress of the US...
The world gold price dropped this morning, with spot gold decreasing by $15.2 to $1,949.3 per ounce. The rise in the US Dollar Index to 102 points added pressure on gold due to a lack of market-boosting information. Experts predict a quiet gold market until labor market data is released on Friday. Economists expect the number of nonfarm payrolls to increase to...
The world gold price fell $12/ounce to $1,948/ounce, reaching a low of $1,940/ounce. This drop was influenced by negative economic data released by the US. The manufacturing PMI in July was 46.4%, slightly higher than June's 46% but lower than the expected 46.9%. The US created 9.58 million jobs in July, slightly lower than June's 9.62 million and the...
The world gold price dropped from $1,960/ounce to $1,948/ounce, with a temporary low of $1,940/ounce. This decline was influenced by negative economic data released by the US. The manufacturing PMI in the US for July was 46.4%, slightly higher than June's 46% but lower than the predicted 46.9%. In terms of job creation, the US added 9.58 million jobs in July,...
The world gold price dropped from $1,960/ounce to $1,948/ounce, with a temporary low of $1,940/ounce. This decline was influenced by negative economic data released by the US. The manufacturing PMI in the US for July was 46.4%, slightly higher than June's 46% but lower than the predicted 46.9%. In terms of job creation, the US added 9.58 million jobs in July,...
The US Federal Reserve (Fed) has started a two-day monetary policy meeting and will announce decisions related to interest rates this afternoon (July 26). However, most analysts firmly predict that interest rates will be 25 basis points higher. For many commodity analysts, the question holding gold back is: Will this be the Federal Reserve's last rate hike in its...
In the world market, spot gold price on Kitco floor tends to increase when trading at 1,962 USD/ounce. Analysts said that the gold market will not have a new breakthrough, but the trend will still increase in the near future. According to analysts, the tough monetary policy stance of the US Federal Reserve (Fed) weakens the economy. Kevin Grady, President of...
The US Federal Reserve (FED) decided to increase interest rates by 0.25 percentage points. Accordingly, the basic interest rate in the US is up to 5.25-5.5% - the highest level since 2001 until now. However, because the FED announced to leave the door open to increase or not raise interest rates in the near future, the USD did not appreciate compared to many...
The world gold price continued to increase slightly today due to the tough monetary policy stance of the US Federal Reserve (Fed). Kevin Grady, President of Phoenix Futures and Options, said that gold prices remained at current levels, despite the reaction to upcoming economic data. Just a small sign of economic weakness will also support gold prices. In the near...
The world gold price increased by 8 USD/ounce, to 1,958 USD/ounce. Gold bulls this week focused on recent upbeat economic data from the US and the European Union that could suggest better commercial and consumer demand for the precious metal in the coming months. However, recent upbeat economic data from China should keep precious metals traders from getting too...
On July 27, the Fed raised interest rates by 0.25% and brought interest rates to a 22-year high. Fed Chairman Jerome Powell said he may pause rate hikes at the next meeting. However, Mr. Powell noted, a rate cut is very unlikely this year. The Federal Open Market Committee (FOMC) will have its next meeting on September 19-20. The stock market reacts to the Fed's...
Gold prices rebounded above the psychologically important level of $1,959 an ounce, as US inflation came out as expected. The U.S. Commerce Department said the core personal consumption expenditures price index rose 0.2 percent last month. Inflation in the past 12 months increased by 4.1%, down sharply from the increase of 4.6% in June. Inflation remained high,...
Although inflation remains anchored at a high level, some analysts have noted that it continues to fall in the right direction that will lead the Federal Reserve to keep interest rates unchanged in September's decision to raise interest rates. . The ability of the central bank to stop tightening policy continues to support gold prices. Analysts note that growing...
Gold prices continue to be under downward pressure due to the US economic growth report released at the end of last week when GDP in the second quarter of 2023 increased by 2.4%, higher than 2% of the previous reporting period and higher than the previous level. before. 1.8% expert prediction. Investors have gradually shifted from investing in commodities like...
The world gold price remains resilient as it continues to hold solid support above $1,950 an ounce even as the US Federal Reserve unleashes its strongest tightening cycle in more than 40 years. Last week, gold prices rebounded on the back of a slightly weaker dollar as signs of US inflation cooled. Money markets are focusing on the decisions of the Federal...