World gold price listed on Kitco is at 1,942 USD/ounce, up 8 USD/ounce compared to the early hours of yesterday morning. December gold futures last traded at $1,976.1 an ounce, up $7.3.
According to some market analysts, the gold market may be struggling to find traction as inflation remains a major concern and could force the US Federal Reserve (Fed) to continue raising prices. interest rates after summer.
Naeem Aslam, chief investment officer at Zaye Capital Markets, forecasts the gold market will continue to struggle as the latest data shows no clear clues as to the path of the next Fed tightening. The market will have to wait for inflation data to be released next week. He said that traders can stay on the sidelines until there are signs that inflation is trending down significantly.
According to some market analysts, the gold market may be struggling to find traction as inflation remains a major concern and could force the US Federal Reserve (Fed) to continue raising prices. interest rates after summer.
Naeem Aslam, chief investment officer at Zaye Capital Markets, forecasts the gold market will continue to struggle as the latest data shows no clear clues as to the path of the next Fed tightening. The market will have to wait for inflation data to be released next week. He said that traders can stay on the sidelines until there are signs that inflation is trending down significantly.
Comment:
The key near-term support for gold is around $1,925 an ounce, said Kelvin Wong, senior market analyst at financial brokerage Oanda. If it falls below this level, the price of gold can touch $ 1,895 / ounce.
