Gold price today 24/8: Gold is "hot" every hour

Dear beloved readers,

Currently, the price of gold is trading around $1919.8 per ounce, experiencing a 0.2% increase compared to the previous trading session. Gold saw significant gains in yesterday's trading session due to a weaker US dollar and declining US Treasury bond yields.

The European Central Bank (ECB) is expected to pause its tightening cycle. Additionally, most interest rates in the US are predicted to remain high due to increasing inflation pressures. The market will closely monitor any changes in the Federal Reserve's inflation reduction target to determine the future price of gold.

Wishing you all smooth and successful trading endeavors ahead!

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good luck everyone :3

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What do you think about the current gold price?
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The longer the Fed maintains these high interest rates, the greater the risk they pose to the economy.

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Investors also looked to gold while waiting for the annual symposium of the US Federal Reserve (Fed) to be held at the weekend in Jackson Hole, Wyoming.

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The demand for buying to pay for short-selling contracts as well as bottom-fishing activities helped gold price rise again.

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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.