World gold price continues to fall on the first day of the week
Updated
World gold price this morning tended to increase with spot gold increasing by 1.3 USD compared to last week's closing to 1,912.4 USD/ounce.
Last week, gold saw its second-biggest weekly decline in a row as it fell about 1% for the week after the US consumer price index (CPI) and producer price index (PPI) reports showed inflationary pressure. broadcast is still there. The precious metal has been confined to the neutral range by mixed sentiment around whether interest rates have peaked or more rate hikes remain.
Risks to the precious metal this week are US July retail sales on Tuesday morning and the minutes of the Fed's latest meeting on Wednesday afternoon, which should help the market know who's in. consumers and how the Fed "feels" about the economy.
Last week, gold saw its second-biggest weekly decline in a row as it fell about 1% for the week after the US consumer price index (CPI) and producer price index (PPI) reports showed inflationary pressure. broadcast is still there. The precious metal has been confined to the neutral range by mixed sentiment around whether interest rates have peaked or more rate hikes remain.
Risks to the precious metal this week are US July retail sales on Tuesday morning and the minutes of the Fed's latest meeting on Wednesday afternoon, which should help the market know who's in. consumers and how the Fed "feels" about the economy.
Note
In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 102.62 points.Note
Notably, the market is experiencing mixed fluctuations between the world and domestic gold prices despite the continuous decline of the world gold price.
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