How will gold perform today and in the future?
Dear readers, do you have any questions about the current gold situation? Currently, the price of gold is stable at around $1916.3 per ounce.
Lately, the gold market has been facing difficulties as the Federal Reserve continues to maintain a tight monetary policy. Increasing bond yields have posed challenges for the gold market, causing prices to drop below the important support level of $1950 per ounce and recently reaching a two-month low. However, this precious metal has partially recovered from those losses as it reached $1920 yesterday.
Currently, the market is awaiting statements from Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde at the annual Jackson Hole Symposium today in the hope of giving gold an edge
Lately, the gold market has been facing difficulties as the Federal Reserve continues to maintain a tight monetary policy. Increasing bond yields have posed challenges for the gold market, causing prices to drop below the important support level of $1950 per ounce and recently reaching a two-month low. However, this precious metal has partially recovered from those losses as it reached $1920 yesterday.
Currently, the market is awaiting statements from Federal Reserve Chairman Jerome Powell and European Central Bank President Christine Lagarde at the annual Jackson Hole Symposium today in the hope of giving gold an edge
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Wish you a smooth trading and big win
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Technical analyst Wang Tao said spot gold is likely to continue to rise and fluctuate in the range of $1,915 to $1,934 an ounce.
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Philadelphia Fed President Patrick Harker said the Fed needs to keep rates tight for a while.
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At the end of the trading week, the gold market continues to stay below the 1,950 USD/ounce mark
