The Bulls have gradually regained their foothold in the market
The latest update on the price of gold as of August 24 shows an increase of $20.2, bringing the current price to $19,215.4 per ounce.
The price of gold has experienced a modest increase after a period of stability due to the weakening US dollar. This morning, the US Dollar Index, which measures fluctuations in the greenback, decreased by 0.19%, increasing investor interest in gold.
With these positive developments, both the market and investors are eagerly awaiting further developments in the price of gold and signals from important events such as Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium on Friday.
The price of gold has experienced a modest increase after a period of stability due to the weakening US dollar. This morning, the US Dollar Index, which measures fluctuations in the greenback, decreased by 0.19%, increasing investor interest in gold.
With these positive developments, both the market and investors are eagerly awaiting further developments in the price of gold and signals from important events such as Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium on Friday.
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“When the Fed stops tightening before inflation is under control, then I think gold will rise.”
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While bullish on gold prices for the rest of the year, it should be noted that the precious metal will face some significant challenges in the near term.
