Hello dear friends! It is a great pleasure to share with you about today's market! Currently, after several days of decline, the price of gold today 8-9 has rebounded as international stocks plummeted, US bond yields and the value of USD declined.
Gold has increased by $5 compared to the previous day's price of $1,915 per ounce and reached the threshold of $1,926.
Gold has increased by $5 compared to the previous day's price of $1,915 per ounce and reached the threshold of $1,926.
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What do you think about the gold price today?
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The US announced that the number of initial weekly unemployment benefit applications increased by only 216,000 applications, much less than the forecast of 234,000 applications.
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According to the CME FedWatch tool, traders see a 93% chance that the Fed will keep rates unchanged at its next meeting.
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Higher US interest rates will increase the opportunity cost of holding gold.
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“The recent reversal in US economic data from weak to strong, once again increases expectations that the US Federal Reserve (FED) may not yet make the move to raise interest rates.”
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Recent negative information about China's economic situation has put significant pressure on the gold market due to concerns about falling demand for precious metals in the country of billions of people.
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where inflation recedes without triggering a recession.
After neutral commentaries from Fed policymakers, chances that interest rates will remain unchanged at 5.25%-5.50% for the remainder of the year rose to 55% against the 53% recorded earlier.
After neutral commentaries from Fed policymakers, chances that interest rates will remain unchanged at 5.25%-5.50% for the remainder of the year rose to 55% against the 53% recorded earlier.
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Gold has locked in exactly as indicated
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Gold price lost its traction and declined toward $1,920 in the American trading hours on Friday. The benchmark 10-year US Treasury bond yield recovered toward 4.25% after spending the first half of the day in negative territory, causing XAU/USD to stretch lower.
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Looking ahead, expect China to continue adding gold as it wants to strengthen the international reputation of the yuan to compete with the USD as the world reserve currency.
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transaction is ready
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Europe's slowing economy makes the dollar more attractive to investors.
