Gold price increased the most in 3 weeks
Hello! I am delighted to engage in a discussion about today's market. Currently, on August 31st, the gold market continues to experience a strong upward trend and has reached a level of 1947 USD per ounce.
The reason behind this significant increase in the price of gold may be attributed to the decline of the US dollar, which provides substantial support for its rise. The decrease in the value of USD can be attributed to the potential weakening of the United States' financial strength as emerging economies from BRICS (Brazil, Russia, India, China, and South Africa) gain prominence. This development is expected to greatly benefit gold in the near future.
Lastly, I would like to wish you all a wonderful day filled with success and victories ahead.
The reason behind this significant increase in the price of gold may be attributed to the decline of the US dollar, which provides substantial support for its rise. The decrease in the value of USD can be attributed to the potential weakening of the United States' financial strength as emerging economies from BRICS (Brazil, Russia, India, China, and South Africa) gain prominence. This development is expected to greatly benefit gold in the near future.
Lastly, I would like to wish you all a wonderful day filled with success and victories ahead.
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According to CME's FedWatch tool, the market is betting on a 43% chance of the Fed raising interest rates at its November 2023 meeting.
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The precious metal will continue to establish itself as a global store of value, attracting a new generation of investors who have experienced unprecedented volatility.
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At the time of the survey, DXY measures greenback volatility with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) down another 0.11%, to 103.05.
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good luck everyone
