⚡️Wednesday's data showed activity in the US services sector grew more than expected in August. However, the particular point of contention for the market was data showing service sector prices. service increases , which could lead to higher inflation in the coming months.
⚡️The Fed is expected to leave interest rates unchanged in September. But the central bank also intends to keep interest rates higher for longer.
⚡️The prospect of higher interest rates is not a good sign for gold because it pushes up the opportunity cost of investing in bullion. A stronger dollar also reduces the yellow metal's value per ounce.
⚡️This notion has affected gold over the past year and presents a gloomy outlook for the yellow metal.
⚡️ Krado believes that after tonight's Unemployment Claims news there will be some adjustments, and push gold prices higher.
⚡️ Share your opinion I'm looking forward to it