Gold price prediction August 30, 2023
According to Kitco, the world gold price recorded at 5:00 am today in Vietnam time for spot at $1,937,225 per ounce. Converting the current exchange rate at Vietcombank, world gold is about 55,815 million VND/tael (excluding taxes and fees). Thus, the price of gold bars of SJC is still higher than the international gold price of 11,735 million VND/tael.
Gold prices rose to a three-week high on Tuesday as the dollar and Treasury yields unexpectedly fell. In addition, weaker labor market indicators cast doubt on the Federal Reserve's ability to raise interest rates again.
Against this backdrop, the dollar fell against other currencies, reversing earlier gains, after data showed U.S. job opportunities fell in July. Treasuries yield The 10-year term has also been reduced. Jim Wyckoff, senior market analyst at Kitco, said the upbeat job openings and labor turnover (JOLTS) survey and consumer confidence report suggest the Fed may not increase interest rates as much as previously predicted. This is supporting gold prices along with some short-term offsetting measures
Gold prices rose to a three-week high on Tuesday as the dollar and Treasury yields unexpectedly fell. In addition, weaker labor market indicators cast doubt on the Federal Reserve's ability to raise interest rates again.
Against this backdrop, the dollar fell against other currencies, reversing earlier gains, after data showed U.S. job opportunities fell in July. Treasuries yield The 10-year term has also been reduced. Jim Wyckoff, senior market analyst at Kitco, said the upbeat job openings and labor turnover (JOLTS) survey and consumer confidence report suggest the Fed may not increase interest rates as much as previously predicted. This is supporting gold prices along with some short-term offsetting measures
✔️ TP1: 1932
✔️ TP2: 1926
🚫 SL: 1943