After 4 weeks of decline, gold price has rebounded this week. After opening at 1,889 USD/oz, gold price fell slightly to 1,884 USD/oz, then rose continuously to 1,923 USD/oz. However, at the end of the week, gold price dropped and closed at 1,913 USD/oz.
At the recent Jackson Hole conference, although Fed Chairman Powell provided little new information on the Fed's monetary policy, he still reiterated the US central bank's position to reduce inflation to the target level. 2%. That is, the Fed will continue to raise interest rates if necessary and continue to maintain interest rates at a high level until the above-mentioned inflation target is reached.
At the recent Jackson Hole conference, although Fed Chairman Powell provided little new information on the Fed's monetary policy, he still reiterated the US central bank's position to reduce inflation to the target level. 2%. That is, the Fed will continue to raise interest rates if necessary and continue to maintain interest rates at a high level until the above-mentioned inflation target is reached.
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Revised Q2 GDP will also be released, along with the PCE and ISM manufacturing, which should help investors confirm what the Fed-driven interest rate trajectory will look like, as the agency tries to balance by inflation and growth risks.
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🕯 BUY GOLD | 1909 - 1912
🔴 SL: 1904
🟢 TP1: 1917
🟢 TP2: 1922
🔴 SL: 1904
🟢 TP1: 1917
🟢 TP2: 1922
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🔹Newspaper: Goldman Sachs used Chinese government funds to buy American companies.
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The key Non-farm payrolls number is expected to rise to 170,000, compared with a gain of 187,000 in the July report.
