Gold Spot / U.S. DollarUpdated Latest gold price update today
The price of gold rose by $16.7 compared to the previous trading session, reaching a three-week high of $1,936.5 per ounce.
The release of the US Job Openings and Labor Turnover Survey (JOLTS) report and the Consumer Confidence Index showed lower-than-expected results, leading to increased demand for precious metals.
Gold continues to maintain a strong recovery but still carries some risk in the near future due to several economic news events that may have a significant impact on its price.
The release of the US Job Openings and Labor Turnover Survey (JOLTS) report and the Consumer Confidence Index showed lower-than-expected results, leading to increased demand for precious metals.
Gold continues to maintain a strong recovery but still carries some risk in the near future due to several economic news events that may have a significant impact on its price.
Note
The Fed has yet to signal a reversal in monetary policy. Therefore, the USD is still considered high and has little chance of a breakout for gold.Note
According to the CME FedWatch tool, traders now see an 86% chance of the Fed leaving interest rates unchanged at its September meeting, up from 78% before the data.Note
According to the US Bureau of Economic Analysis' second quarter gross domestic product report, the economy grew by 2.1%, lower than expectations.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.