Hello dear friends, another week has passed to meet you again and discuss the market today. Currently, the price of gold is still holding steady at $1915.8 per ounce.
Today, gold continues to face pressure from the US dollar and rising yields on US Treasury bonds, making it less attractive for investors.
As a result, the value of the USD is trending upwards. The DXY index - which measures the strength of the USD against 6 major currencies - closed last week at 104.19 points, an increase of 0.2% compared to the previous session.
Today, gold continues to face pressure from the US dollar and rising yields on US Treasury bonds, making it less attractive for investors.
As a result, the value of the USD is trending upwards. The DXY index - which measures the strength of the USD against 6 major currencies - closed last week at 104.19 points, an increase of 0.2% compared to the previous session.
評論:
The latest weekly survey results for gold show that most retail investors expect the price of gold to increase by the end of September 1st and trade around $1,941 per ounce.
評論:
"Gold is surprisingly strong even when the US dollar is strong this week and the culprit is the weakness of the euro (57.6% in DXY). The strength of the US dollar is truly remarkable due to its reaction to support tests, but gold continues to rise even in that context."
評論:
What do you think about the price of gold today?
評論:
The market still has to wait for the coming macroeconomic data. If the data shows a weaker economy, that is supportive for gold and vice versa.
評論:
This week will see a bunch of key economic data released, including the ADP jobs report and nonfarm payrolls. These data are forecasted to help the market have a better insight into the US employment picture.
評論:
After four consecutive weeks of losses, gold recorded a slight increase this week. However, this increase is still modest. Traders should note that the gold market is in a wait-and-see state and upcoming economic data could bring significant fluctuations.
