World gold increased sharply after many fluctuations
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The world gold market will likely be more exciting this week after escaping the gloom for a long time. The price of this precious metal is expected to be affected by the Fed Chairman's statement
Optimism is covering the gold market, as recent data shows cracks in the US economy, a weakening US labor market and falling inflation. All the data reinforces the possibility that the Fed will soon introduce monetary policy easing and lower interest rates, which should support the price of the precious metal gold.
Gold price on Kitco closed the trading week at 2,388 USD/ounce. Gold futures price in August traded at 2,399 USD/ounce.
Kitco News's latest weekly gold survey shows that almost all experts and retailers have a positive outlook for gold prices this week.
Optimism is covering the gold market, as recent data shows cracks in the US economy, a weakening US labor market and falling inflation. All the data reinforces the possibility that the Fed will soon introduce monetary policy easing and lower interest rates, which should support the price of the precious metal gold.
Gold price on Kitco closed the trading week at 2,388 USD/ounce. Gold futures price in August traded at 2,399 USD/ounce.
Kitco News's latest weekly gold survey shows that almost all experts and retailers have a positive outlook for gold prices this week.
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