Gold price struggles to snap a losing streak, treading waters near $1,890 per troy ounce during the Asian session on Monday. The Gold is also benefiti
However, the price of Gold experienced downward pressure on Friday due to upbeat United States economic data, leading to cautiousas traders remain vigilant for more cues regarding the inflation outlook. The Gold price could face a challenge due to China’s economic woes. These elements could potentially impact the overall trajectory of Gold prices.
Investors seek additional indications that could provide them with a clearer understanding of the potential direction of the US Federal Reserve regarding monetary policy in September’s meeting. This suggests that caution persists in the market, leading traders to remain uncertain and seek more information before making definitive decisions.by 10 basis points against the market expectation of a 15 bps reduction on Monday.
In the upcoming week, investors will likely monitor the release of US economic data, particularly Home Sales and the preliminary S&P Globalsurveys for August along with Fed Chair Jerome Powell's speech on Friday during the Jackson Hole Symposium. This event could provide insights into the state of the US economy, helping to shape potential strategies for placing new bets on the Gold.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
XAU/USD Price Forecast: Is the Tide Turning for Gold?Gold prices looks to a big data week that includes the Jackson Hole Economic Symposium as XAU/USD bulls look to find some respite.
Lire la suite »
Gold Price Forecast: XAU/USD appears bearish past $1,900, focus on PMI, Jackson HoleGold Price (XAU/USD) marks an unimpressive start of the trading week around $1,890, after declining in the last four consecutive weeks. In doing so, t
Lire la suite »
Euro Forecast: EUR/USD at the Mercy of the Dollar, EUR/JPY Pulls BackThe euro has taken a back seat amid scarce high importance data. In the coming week EU PMI data will help inform eurozone prospects after slightly better Q2 growth
Lire la suite »