Technically, spot gold needs to break above resistance at the 200-day moving average - around $1,910 an ounce - for a more pronounced recovery.
Discussions will likely focus on whether the central bank should maintain in the long term the level of equilibrium interest rates higher than they were a decade ago. If the long-term equilibrium interest rate scenario is supported by a high inflation environment, then gold price may be sought as a hedging tool and attracting investors as the price has dropped to an attractive level.
Discussions will likely focus on whether the central bank should maintain in the long term the level of equilibrium interest rates higher than they were a decade ago. If the long-term equilibrium interest rate scenario is supported by a high inflation environment, then gold price may be sought as a hedging tool and attracting investors as the price has dropped to an attractive level.
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🔹Emerging markets group BRICS invites 6 new members, including Saudi Arabia and Iran.
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🟢The Dow Jones Industrial Average shed 36 points, or 0.1%, after being up more than 200 points at session highs. The S&P 500 slipped 0.2%, while the Nasdaq Composite dipped nearly 0.3%.
