Gold price today (August 23): The world increased slightly
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World gold price this morning continued to increase slightly with spot gold up 2.9 USD to 1,897.2 USD/ounce. December gold futures last traded at $1,926.0 per ounce, up $2.30 from dawn yesterday.
World gold price increased slightly in yesterday session 22-8. Short-term offsets and some light bargain hunting are believed to have been the hallmarks of the precious metal's rally, after hitting a five-month low in recent times.
Despite recent selling pressure, analysts note that the gold market is resilient despite bond yields rising to new 15-year highs. Overnight, the US 10-year bond yield rose to 4.36%, the highest level since late 2007. They also note that a rise in bond yields is negative for gold because it does increases the opportunity cost of holding zero-yield assets like gold. Despite rising bond yields, gold prices managed to hold onto a key support level.
World gold price increased slightly in yesterday session 22-8. Short-term offsets and some light bargain hunting are believed to have been the hallmarks of the precious metal's rally, after hitting a five-month low in recent times.
Despite recent selling pressure, analysts note that the gold market is resilient despite bond yields rising to new 15-year highs. Overnight, the US 10-year bond yield rose to 4.36%, the highest level since late 2007. They also note that a rise in bond yields is negative for gold because it does increases the opportunity cost of holding zero-yield assets like gold. Despite rising bond yields, gold prices managed to hold onto a key support level.
Note
XAUUSD SELL 1904 -1906🕯✅ TP1: 1911
✅ TP2: 1913
⚠️ SL: 1900
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