Gold Spot / U.S. DollarUpdated Gold price recovers but is not certain
Hello everyone! Let's discuss the gold market today with Selena.
Currently, gold is showing a slight increase (15/9), but it remains at its lowest level in three weeks and is trading around $1918. This is due to investor concerns that US interest rates may be higher in the long run, which is driving up the value of the USD and bond yields.
Despite this increase, the main trend for gold after yesterday's price drop continues to be sideways movement. This means that there are limited opportunities for significant price increases in the short term. We will have to wait for further updates from major market institutions to get a clearer picture of what lies ahead for this precious metal.
Currently, gold is showing a slight increase (15/9), but it remains at its lowest level in three weeks and is trading around $1918. This is due to investor concerns that US interest rates may be higher in the long run, which is driving up the value of the USD and bond yields.
Despite this increase, the main trend for gold after yesterday's price drop continues to be sideways movement. This means that there are limited opportunities for significant price increases in the short term. We will have to wait for further updates from major market institutions to get a clearer picture of what lies ahead for this precious metal.
Note
US August PPI was announced to increase by 0.7%, stronger than the forecast of a 0.4% increase
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.