Gold prices rise in Asian trade
Updated
According to Kitco, the world gold price recorded at 5:00 am today Vietnam spot time was 2,017,945 USD/ounce. Today's gold price is 4,715 USD/ounce different from yesterday's gold price.
Gold prices rose in Asian trade extending a recovery to one-month lows after recently breaking below key support, despite worries of stabilizing a higher pace in the long term of America.
The yellow metal briefly broke below $2,000 an ounce in early February, performing a stronger-than-expected U.S. spotting index that left traders largely bullish on the development. Hope for an early interest rate cut by the US Federal Reserve (FED).
Although gold has rebounded above support, it remains largely within the $2,000-$2,050 per ounce trading range established since mid-January. The yellow metal has struggled to make progress in the face of America's difficult settlement and growing hawkish interest rates.
Gold prices rose in Asian trade extending a recovery to one-month lows after recently breaking below key support, despite worries of stabilizing a higher pace in the long term of America.
The yellow metal briefly broke below $2,000 an ounce in early February, performing a stronger-than-expected U.S. spotting index that left traders largely bullish on the development. Hope for an early interest rate cut by the US Federal Reserve (FED).
Although gold has rebounded above support, it remains largely within the $2,000-$2,050 per ounce trading range established since mid-January. The yellow metal has struggled to make progress in the face of America's difficult settlement and growing hawkish interest rates.
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World gold prices stabilized, with spot gold down 1 USD to 2,023 USD/ounce. Gold futures last traded at $2.035 an ounce, down $0.90 from the bright spot.Despite being pressured by the minutes of the first main meeting of the US Federal Reserve (Fed), gold continues to consolidate at 2,000 USD/ounce. In the new minutes, the Fed warned that its monetary policy has reached its peak but has not yet reduced interest rates.
Fed officials noted that inflation is less likely and economic activity remains strong. According to the compiler, the ban wants to supplement proven evidence, continuing to reduce consumption to 2% before making a decision to maintain monetary policy.
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