Low interest rate environments tend to boost gold's appeal

World gold prices increased slightly with spot gold increasing by 3.2 USD to 2,518.6 USD/ounce. Gold futures last traded at $2,553.90/ounce, up $4.30 from yesterday morning.

World gold prices continue to maintain their recent record high thanks to support from the weakening of the USD and increased expectations that interest rates will be cut at the September meeting after the balance statement from Chairman of the US Federal Reserve (Fed) Jerome Powell.

According to UBS analyst Giovanni Staunovo, Mr. Powell sent a strong signal about providing monetary policy at the end of the third quarter. The president of the most powerful central bank in the world is also strong, the speed and process of cuts will depend on the upcoming economic material.

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