Gold price continues to show strength
Updated
The price of gold continues to rise today and is trading around the $1943 per ounce range. While gold is increasing, it should be noted that this precious metal may struggle to break free from its current price level due to the context of the USD and bond yields remaining high.
However, gold has demonstrated its strength by facing the highest bond yields in 15 years and surpassing the 104-point mark on the US Dollar Index. Therefore, gold will maintain its support level in the current context of a resurging USD.
However, gold has demonstrated its strength by facing the highest bond yields in 15 years and surpassing the 104-point mark on the US Dollar Index. Therefore, gold will maintain its support level in the current context of a resurging USD.
Note
The fact that gold still holds the current support level in the context of the strength of the USD has returned is quite an optimistic factor.Note
According to consensus estimates, economists expect growth of 2.4%. The closely watched personal consumption expenditures (PCE) price index in the second quarter rose 2.5% from the first estimate of a 2.6% increase.
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