Hi everyone, today, the price of gold is listed at $1918 per ounce, representing a decrease of $10 compared to the beginning of yesterday morning.
The precious metal is declining in the context of the US dollar remaining high, around 104.7 points. The US Dollar Index has risen as investors seek measures to protect against concerns about global economic growth, particularly in China and the eurozone.
The market expects a 93% chance that the Fed will pause interest rate hikes at its meeting in September. However, there is a 40% chance of an interest rate hike in either November or December.
The precious metal is declining in the context of the US dollar remaining high, around 104.7 points. The US Dollar Index has risen as investors seek measures to protect against concerns about global economic growth, particularly in China and the eurozone.
The market expects a 93% chance that the Fed will pause interest rate hikes at its meeting in September. However, there is a 40% chance of an interest rate hike in either November or December.
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good luck
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Elsewhere, grim concerns about China, one of the world’s biggest Gold customers, join the Sino-American tussles and upbeat yields to also increase the hardships for the XAU/USD recovery.
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The price of gold today (8/9) saw a turnaround from the previous session and reached a price of 1925 USD/ounce as Fed officials provided conflicting information regarding monetary policy, which supported gold.
