World gold price in the early morning increased slightly with spot gold up 2.7 USD to 1,894.3 USD/ounce. Gold futures in December last traded at $1,923.7 per ounce, up $0.7 from dawn yesterday.
World gold still traded at the lowest level within 5 months in the first session of the week. The precious metal's rally is still being capped by rising US Treasury yields, with the technical chart remaining in a downtrend.
Traders said that the precious metal market this week may be quiet ahead of the annual Jackson Hole economic symposium of the US Federal Reserve (Fed) in Kansas City, with the attendance. by the leaders of the world's top central banks this weekend. Markets await Fed Chairman Jerome Powell's speech for clues on the interest rate outlook. At its meeting last month, the Fed raised interest rates to 5.25% to 5.5%, a 22-year high.
The Fed recently released the minutes of its July policy meeting, which showed that, at the time, most Fed officials saw significant upside risks to inflation, so a tightening may be necessary. tighter monetary policy. However, some officials also favored keeping rates steady, marking the first sign of disagreement over the Fed's way forward.
XAUUSD SELL 1894 -1896🕯
✅ TP1: 1889
✅ TP2: 1882
️ SL: 1904
World gold still traded at the lowest level within 5 months in the first session of the week. The precious metal's rally is still being capped by rising US Treasury yields, with the technical chart remaining in a downtrend.
Traders said that the precious metal market this week may be quiet ahead of the annual Jackson Hole economic symposium of the US Federal Reserve (Fed) in Kansas City, with the attendance. by the leaders of the world's top central banks this weekend. Markets await Fed Chairman Jerome Powell's speech for clues on the interest rate outlook. At its meeting last month, the Fed raised interest rates to 5.25% to 5.5%, a 22-year high.
The Fed recently released the minutes of its July policy meeting, which showed that, at the time, most Fed officials saw significant upside risks to inflation, so a tightening may be necessary. tighter monetary policy. However, some officials also favored keeping rates steady, marking the first sign of disagreement over the Fed's way forward.
XAUUSD SELL 1894 -1896🕯
✅ TP1: 1889
✅ TP2: 1882
️ SL: 1904
