Gold price today 24/8: Gold 'booms'

Hello dear readers, do you have any questions about the price of gold today? Currently, gold is experiencing an increase in value mainly due to the slight weakening of the US dollar and its steady position around $1920 per ounce despite significant pressure from the USD.selling gold is still the main trend.
The rise in gold prices can also be attributed to many stock markets around the world facing downward pressure as the economy receives multiple negative signals.

Investors are also turning to gold in anticipation of the annual symposium organized by the Federal Reserve (Fed), which will take place at Jackson Hole, Wyoming over this weekend. The meeting will bring together leaders from central banks worldwide, including Fed Chair Jerome Powell.

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How do you feel about the gold price today?

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Gold also increased because many stock markets around the world were under pressure to reduce because the economy received many negative signals.

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The world USD appreciated strongly in the middle of the last week when China continued to loosen monetary policy, causing the yuan to weaken further.

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While bullish on gold prices for the rest of the year, it should be noted that the precious metal will face some significant challenges in the near term.

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Despite the strong rise of USD, gold prices are still adjusting within a narrow range without much concern.

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At the end of the trading week, the gold market continues to stay below the 1,950 USD/ounce mark

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The latest weekly survey results for gold show that most retail investors expect the price of gold to increase by the end of September 1st and trade around $1,941 per ounce.

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US economic data continues to play an important role in the gold market sentiment. The US Federal Reserve (Fed) has vowed to keep interest rates higher for a long time as the economic situation continues to support the labor market.