XAUUSD - Eagerly waiting for the signal from the Fed
On the world market, gold price traded right at Kitco 21/8 (traded at 1,893.2 USD/ounce.
The world gold price is being negatively affected, causing the USD to rise. Analysts forecast Yen Thang market waiting for Chairman of the US Federal Reserve (Fed) Jerome Powell to speak at the annual Jackson Hole symposium.
Dollar Index (measurement of USD strength with 6 holders' currencies) increased by more than 0.02% compared to the previous session, up 103.19 points
Although gold has had strong selling pressure over the past 4 weeks, Schneider believes the market can continue to generate enduring strength. Despite selling pressure, gold remained at a March low of $1,885 an ounce.
Gold prices are unlikely to rise again when other yielding assets such as bonds and the dollar strengthen. Investors switched from gold to another profitable channel.
The world gold price is being negatively affected, causing the USD to rise. Analysts forecast Yen Thang market waiting for Chairman of the US Federal Reserve (Fed) Jerome Powell to speak at the annual Jackson Hole symposium.
Dollar Index (measurement of USD strength with 6 holders' currencies) increased by more than 0.02% compared to the previous session, up 103.19 points
Although gold has had strong selling pressure over the past 4 weeks, Schneider believes the market can continue to generate enduring strength. Despite selling pressure, gold remained at a March low of $1,885 an ounce.
Gold prices are unlikely to rise again when other yielding assets such as bonds and the dollar strengthen. Investors switched from gold to another profitable channel.
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