On the world gold market, spot gold price closed today up 1.3 USD to 1,913.1 USD/ounce.
Gold futures for December delivery on the Comex New York exchange fell slightly by 2.3 USD, or 0.12%, to 1,946.6 USD/ounce.
Gold has seen its second consecutive week of sharp declines and gold futures for December delivery have fallen 1.5% from Friday, August 4.
The most prominent event risks next week for the precious metal are US July retail sales on Tuesday morning and the release of the latest FOMC meeting minutes on Wednesday afternoon, which should help the market. The market knows how consumers are feeling and how the Federal Reserve feels about the economy.
“The long-term interest in gold is there but this is going to be a tough environment. Gold will struggle until we see a market risk event"
Gold futures for December delivery on the Comex New York exchange fell slightly by 2.3 USD, or 0.12%, to 1,946.6 USD/ounce.
Gold has seen its second consecutive week of sharp declines and gold futures for December delivery have fallen 1.5% from Friday, August 4.
The most prominent event risks next week for the precious metal are US July retail sales on Tuesday morning and the release of the latest FOMC meeting minutes on Wednesday afternoon, which should help the market. The market knows how consumers are feeling and how the Federal Reserve feels about the economy.
“The long-term interest in gold is there but this is going to be a tough environment. Gold will struggle until we see a market risk event"
Comment:
In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 102.62 points.
Comment:
Precious metal prices are considered difficult to rebound strongly in the context of the USD recovering and not having many supporting factors.
Notably, the market is experiencing mixed fluctuations between the world and domestic gold prices despite the continuous decline of the world gold price.
Notably, the market is experiencing mixed fluctuations between the world and domestic gold prices despite the continuous decline of the world gold price.
Comment:
In international markets, crude oil prices are falling and trading around $82.25/barrel. The yield on the benchmark 10-year US Treasury note is at 4.15%.
