GOLD - sideway waiting for news
The price of gold today is trading around $1,935 per ounce, which is a decrease of $8.4 per ounce compared to the previous trading session.
The US Dollar is currently benefiting from the strong recovery seen last week, as China's economic difficulties reinforce the demand for safe-haven assets like the Greenback. As a result, this has had a negative impact on the price of gold. The precious metal is under pressure due to the strengthening US Dollar.
The future of gold will depend on what happens with interest rates before the FOMC meeting in September.
If we see interest rates decrease based on rate expectations, this would be a positive development for gold.
The US Dollar is currently benefiting from the strong recovery seen last week, as China's economic difficulties reinforce the demand for safe-haven assets like the Greenback. As a result, this has had a negative impact on the price of gold. The precious metal is under pressure due to the strengthening US Dollar.
The future of gold will depend on what happens with interest rates before the FOMC meeting in September.
If we see interest rates decrease based on rate expectations, this would be a positive development for gold.
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