Greetings to all, the price of gold for the current week remains on a downward trajectory, with the latest value standing at 1888 USD. This represents a decrease compared to previous trading sessions, primarily influenced by factors such as the strength of the USD and bond yields. Moreover, there is speculation that the Federal Reserve may opt for further interest rate hikes in September. Consequently, this poses significant challenges for gold and indicates that its prices are not expected to surge in the near future.
Comment:
Of more than 940 survey respondents, the odds of gold price rising and falling are approximately the same, with 44% predicting the price will go up while 41% predict the opposite. Only 140 people, or 15%, have a neutral opinion.
Comment:
Trading on the market fell sharply, investors were afraid. SPDR Gold Trust, the world's largest gold exchange-traded fund, reduced its gold reserves to its lowest level since January 2020.
Comment:
This week, before the annual meeting of the Federal Reserve (Fed), gold prices are expected to remain relatively stable with minimal fluctuations.
