World gold spot price stands around 2,363
Updated
World gold prices almost went sideways, due to investors' profit-taking mentality after the precious metal saw a sudden increase in the previous session.
According to experts, precious metal prices have just gained momentum after the speech of the Chairman of the US Federal Reserve (Fed). Mr. Jerome Powell said that US inflation has cooled down. Experts and investors are increasing expectations that the Fed will soon loosen monetary policy.
After the economic and employment data were released, many experts said that the possibility that the Fed would start cutting interest rates in September increased from 65% to 68%. In addition, the market also expects another interest rate cut by the Fed in December.
Currently, investors wait for the minutes of the US Central Bank's latest policy meeting and the non-farm payroll report to know more about interest rate cuts.
According to experts, precious metal prices have just gained momentum after the speech of the Chairman of the US Federal Reserve (Fed). Mr. Jerome Powell said that US inflation has cooled down. Experts and investors are increasing expectations that the Fed will soon loosen monetary policy.
After the economic and employment data were released, many experts said that the possibility that the Fed would start cutting interest rates in September increased from 65% to 68%. In addition, the market also expects another interest rate cut by the Fed in December.
Currently, investors wait for the minutes of the US Central Bank's latest policy meeting and the non-farm payroll report to know more about interest rate cuts.
Note
SELL 2363 TP1: 2357
tp2: 2351
sl: 2370-
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