Hello dear friends! What are your thoughts on gold today? Gold has seen a stable recovery from its recent lows and is currently priced at $1922 per ounce, although the future strength of the precious metal is still in doubt due to the prospect of increasing US interest rates. The strength of the USD, which is trading near its highest level in 3 months, also puts pressure on the gold market.
The price of gold will be reinforced as investors prepare for important economic indicators such as Non-Farm Payrolls (NFP) and ISM Manufacturing PMI for August, which will be released later this week.
As can be seen on the 4-hour chart, gold is trading above the EMA 34 and EMA 89 lines, indicating a significant uptrend. Wishing you all good luck!
The price of gold will be reinforced as investors prepare for important economic indicators such as Non-Farm Payrolls (NFP) and ISM Manufacturing PMI for August, which will be released later this week.
As can be seen on the 4-hour chart, gold is trading above the EMA 34 and EMA 89 lines, indicating a significant uptrend. Wishing you all good luck!
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The dollar fell 0.1%, making gold cheaper for holders of other currencies. Yields on 10-year Treasury notes are holding below recent peaks.
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The US Federal Reserve (Fed) has vowed to keep interest rates higher for a long time as the economic situation continues to support the labor market.
