What are your thoughts on how gold will move today? Currently, gold is experiencing slight fluctuations around the $1,900 per ounce mark after recently bouncing back from its lowest point in five months.
The increase in US government bond yields is putting pressure on gold, while investors are still waiting for further signals regarding interest rates from the Jackson Hole Symposium happening later this week. This meeting usually generates some market-sensitive news through comments made by central banks worldwide and will have a significant impact on gold.
It is forecasted that in the coming period, gold needs to surpass the $1,910 threshold to see a more evident progression of recovery.
The increase in US government bond yields is putting pressure on gold, while investors are still waiting for further signals regarding interest rates from the Jackson Hole Symposium happening later this week. This meeting usually generates some market-sensitive news through comments made by central banks worldwide and will have a significant impact on gold.
It is forecasted that in the coming period, gold needs to surpass the $1,910 threshold to see a more evident progression of recovery.
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Overnight, the US 10-year bond yield rose to 4.36%, the highest level since late 2007
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although yields could move higher in the near-term, an end to the cycle of central bank tightening will eventually hold back gold's rally.
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Despite gold's recent struggles, there is some optimism that the upcoming Jackson Hole Symposium will help push its price back up.
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What do you think about the gold price today?
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Gold is still moving in the direction the Fed wants
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good luck everyone
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Wishing you a smooth transaction and many big wins
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The longer the Fed maintains these high interest rates, the greater the risk they pose to the economy.
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gold is rising strongly
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Currently, the market is waiting for the speech of the Chairman of the US Federal Reserve (Fed) Jerome Powell and President of the European Central Bank (ECB) Christine Lagarde at the annual Jackson Hole symposium that will take place. today
