Hello beloved smart traders! In the market, gold is experiencing a slight increase and is currently trading at a high level above $1920, reaching $1923.5 per ounce.
It can be observed that the gold market has undergone significant fluctuations after the release of macroeconomic data this week. The developments in the US economy continue to play an important role in investor sentiment.
In the short term, gold is being influenced by statements made by Fed Chairman Jerome Powell, indicating that interest rates will remain high. The gold market is still awaiting a series of important economic data releases such as employment reports, revised Q2 GDP along with expenditure and personal consumption (PCE) indices and production indices (ISM)...
These data will help us somewhat predict the future direction of gold.
It can be observed that the gold market has undergone significant fluctuations after the release of macroeconomic data this week. The developments in the US economy continue to play an important role in investor sentiment.
In the short term, gold is being influenced by statements made by Fed Chairman Jerome Powell, indicating that interest rates will remain high. The gold market is still awaiting a series of important economic data releases such as employment reports, revised Q2 GDP along with expenditure and personal consumption (PCE) indices and production indices (ISM)...
These data will help us somewhat predict the future direction of gold.
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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.
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, the spot gold price quickly rebounded to $1,936 per ounce due to a rapid decrease in the USD.
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The gold market continues to have a strong uptrend and has touched the level of 1947 USD/ounce.
