SHINOBI - XAUUSD: Where will the gold price be today?
Gold prices rose slightly above $1,900, supported by sluggish US Treasury Interest ahead of the Jackson Hole Conference of Economists.
Gold prices rose slightly to levels above $1,900, supported by sluggish US Treasury yields ahead of the Jackson Hole Economic Symposium.
Analysts warn that Powell could signal an era of higher US interest rates, especially as inflation remains high and the labor market remains strong. Any signal of higher US interest rates is likely to cause more damage to gold, as rising interest rates will drive up the opportunity cost of investing in the yellow metal.
The trade has battered gold over the past year, as the metal came under renewed pressure in August after data showed US inflation remained high in July. Despite this week's rally, gold prices are still trading near 5-month lows, with the yellow metal's rally expected to be short-lived due to US interest rates. remains higher for a longer period of time.
Gold remains attractive to us as a long-term portfolio hedge – especially in light of uncertain global growth prospects, volatile stock market dynamics and geopolitics. instability
Gold prices rose slightly to levels above $1,900, supported by sluggish US Treasury yields ahead of the Jackson Hole Economic Symposium.
Analysts warn that Powell could signal an era of higher US interest rates, especially as inflation remains high and the labor market remains strong. Any signal of higher US interest rates is likely to cause more damage to gold, as rising interest rates will drive up the opportunity cost of investing in the yellow metal.
The trade has battered gold over the past year, as the metal came under renewed pressure in August after data showed US inflation remained high in July. Despite this week's rally, gold prices are still trading near 5-month lows, with the yellow metal's rally expected to be short-lived due to US interest rates. remains higher for a longer period of time.
Gold remains attractive to us as a long-term portfolio hedge – especially in light of uncertain global growth prospects, volatile stock market dynamics and geopolitics. instability
TP: 1917
SL: 1927