Gold price 'Perforated' the bottom of USD 1,900/ounce
Many forecasts suggest that the USD will increase in the short term. Gold prices may remain under downward pressure for the rest of the summer.
However, market observers noted that the short-term decline in gold is seen as an entry opportunity. Gold is likely to increase rapidly in the spring and next year. Gold's long-term uptrend is appreciated.
However, market observers noted that the short-term decline in gold is seen as an entry opportunity. Gold is likely to increase rapidly in the spring and next year. Gold's long-term uptrend is appreciated.
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Bank of America's Hartnett described this week's China data as "shocking" and warned of a credit event that could crash markets and necessitate a coordinated response.
Comment:
The world gold price gained modestly after a series of quiet days thanks to the weakening of the USD. Early this morning, the US Dollar Index, which measures the volatility of the greenback, fell 0.19%, increasing the attractiveness of gold to buyers holding other currencies.
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🔹Emerging markets group BRICS invites 6 new members, including Saudi Arabia and Iran.
