Gold price today 7/8: Precious metal gradually recovers
World gold price recorded today spot at 1,937,655 USD/ounce.
The gold market is facing significant challenges when it comes to maintaining critical resistance. This comes against a backdrop of the US labor market which saw notable weakness in July, although pressure on employment remains intact.
It is worth noting that the gold market could face a difficult possibility of generating strong growth, especially as the report highlights that use continues to be an important risk, possibly end the US Federal Reserve (Fed) raised interest rates after the summer.
The gold market is facing significant challenges when it comes to maintaining critical resistance. This comes against a backdrop of the US labor market which saw notable weakness in July, although pressure on employment remains intact.
It is worth noting that the gold market could face a difficult possibility of generating strong growth, especially as the report highlights that use continues to be an important risk, possibly end the US Federal Reserve (Fed) raised interest rates after the summer.
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Inflation data to be released soon will play an important role in shaping the market trend in the near future.
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Last week, gold prices turned to rise after falling to a very low level of 1,926 USD/ounce. This is a positive signal that opens the way for the next uptrend of gold.
