World gold price today continued to decline slightly with spot gold down 3.2 USD to 1,903.6 USD/ounce. December gold futures last traded at $1,933.4 per ounce, down $10.6 from yesterday.
Gold prices are trading at a five-month low, under selling pressure even as the New York Federal Reserve reported a sharp drop in activity in the region's manufacturing sector.
Intraday US data points reported that retail sales for July increased by 0.7% compared to June, which was a surprise and well above market expectations. The report is a hawk on US monetary policy and is key US data ahead of next week's annual Fed symposium in Jackson Hole, Wyoming.
In the long-term, the USD is considered difficult to escape the downward trend because the Fed reverses monetary policy and the payment power of the greenback declines when many big countries, including China and Russia, are withdrawing from the market. gradually the USD out of transactions.
Gold prices are trading at a five-month low, under selling pressure even as the New York Federal Reserve reported a sharp drop in activity in the region's manufacturing sector.
Intraday US data points reported that retail sales for July increased by 0.7% compared to June, which was a surprise and well above market expectations. The report is a hawk on US monetary policy and is key US data ahead of next week's annual Fed symposium in Jackson Hole, Wyoming.
In the long-term, the USD is considered difficult to escape the downward trend because the Fed reverses monetary policy and the payment power of the greenback declines when many big countries, including China and Russia, are withdrawing from the market. gradually the USD out of transactions.
Comment:
The US economy is still quite strong and this is the basis for the central bank of this country to raise interest rates to pull inflation (at about 4-5% as at present) to the 2% target.
Comment:
Given these ongoing developments within the gold market that show little signs of improvement, investors are opting to sell their holdings in order to recover their capital.
