Gold price forecast today
Updated
Hello, it's great to see you all again and have the opportunity to share about the market. Today, on Kitco, the price is listed at $1,918 per ounce, which remains unchanged from earlier this morning.
During yesterday's trading session, there was a fluctuation of 105 points in the US Dollar Index. This took away some of the modest gains that gold had achieved previously.
According to CME's FedWatch tool, there is a 93% probability that the Fed will maintain interest rates at their meeting in September.
The central bank continues to support the market; however, prices may face difficulties in the near future. Therefore, for gold to break out and make significant gains, global growth needs to slow down and bond yields need to decrease.
During yesterday's trading session, there was a fluctuation of 105 points in the US Dollar Index. This took away some of the modest gains that gold had achieved previously.
According to CME's FedWatch tool, there is a 93% probability that the Fed will maintain interest rates at their meeting in September.
The central bank continues to support the market; however, prices may face difficulties in the near future. Therefore, for gold to break out and make significant gains, global growth needs to slow down and bond yields need to decrease.
Note
Please wait. The potential for price increases is there. good luckNote
nice weekendNote
“The dollar remains well-positioned to move higher and this will pose a challenge for gold. Gold will have its days when it shines, but not this week.”
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