Today's trading trend, wait for a decrease to buy
World gold prices increased with spot gold increasing by 9.2 USD to 2,425.9 USD/ounce. Gold futures last traded at 2,430.3 USD/ounce, up 12.9 USD compared to yesterday morning.
Although the price of the yellow metal inched up slightly compared to yesterday morning, it has dropped sharply compared to the increase during the day. Previously, gold had conquered a new all-time high when inflation in the US showed signs of slowing down, increasing expectations that the US Federal Reserve (Fed) would soon make its first interest rate cut. Spot gold has soared to 2,449.8 USD/ounce.
According to Capital.com financial market analyst Kyle Rodda, the main driving force for gold's strong surge at the beginning of the week was the weakening of the USD and expectations that the Fed will soon loosen monetary policy today. the more increased. Last week's data showed that inflation is showing signs of cooling down and traders now forecast about a 65% chance that the US will cut interest rates in September.
RJO Futures senior market strategist Daniel Pavilonis said that, in addition to "persistent" inflation, the US public debt burden is also a factor driving gold's recovery. Pavilonis expects gold to increase to nearly 2,500 USD/ounce in the short term.
Although the price of the yellow metal inched up slightly compared to yesterday morning, it has dropped sharply compared to the increase during the day. Previously, gold had conquered a new all-time high when inflation in the US showed signs of slowing down, increasing expectations that the US Federal Reserve (Fed) would soon make its first interest rate cut. Spot gold has soared to 2,449.8 USD/ounce.
According to Capital.com financial market analyst Kyle Rodda, the main driving force for gold's strong surge at the beginning of the week was the weakening of the USD and expectations that the Fed will soon loosen monetary policy today. the more increased. Last week's data showed that inflation is showing signs of cooling down and traders now forecast about a 65% chance that the US will cut interest rates in September.
RJO Futures senior market strategist Daniel Pavilonis said that, in addition to "persistent" inflation, the US public debt burden is also a factor driving gold's recovery. Pavilonis expects gold to increase to nearly 2,500 USD/ounce in the short term.
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