Despite the rebound on Friday, gold has not escaped the week of losses and may be struggling to rally as inflation remains a significant concern and could force the Fed to raise interest rates after the summer. . Gold is still in a downtrend, we wait to sell gold at Keylevel
The world gold price was stable today with spot gold increasing by 0.6 USD to 1,954 USD/ounce. August gold futures last traded at $1,956.4 per ounce, down $8 from dawn the day before. Although the world gold price was almost unchanged from dawn the previous day, it has fallen sharply from the gain gained during the day due to concerns about demand for the metal...
The good news for consumers is that inflation is definitely on track; however, they remain high, which means the Fed may not be ready to declare victory in the battle against higher consumer prices. But now we are nearing the end, breathing new life into the market. Although the price of gold seems to be on the right side of 1950 USD/ounce, there are still some...
According to the World Gold Council (WGC), gold is likely to be supported in the second half of the year amid a weak dollar and stable bond yields. A deep recession will boost gold's value but a "soft landing" could challenge the precious metal. Gold rose to a 3-week high as investors looked at data on US inflation - an important factor influencing the decision...
World precious metal prices reversed thanks to the weakening of the USD. The market is starting to focus on the monetary policy meeting of the US Federal Reserve (Fed) that will take place early next week. The majority of the market thinks the Fed will pause the austerity cycle. In addition, its role as a safe-haven asset against geopolitical issues will also...
Forecasting the gold price trend, non-interest-bearing assets like gold tend not to be chosen by investors amid rising interest rates. The US Dollar Index also climbed near a two-month high and weighed on gold prices. A stronger dollar causes the yellow metal to fall in value against other currencies.
The dollar rallied to a seven-week high in the last session, after data showed US inflation continued to rise, while consumer spending rebounded in February, underpinning the outlook. Hope that the US Federal Reserve (Fed) will continue to aggressively raise interest rates to control inflation. Hotter-than-expected data helped the greenback continue to rally...