Gold prices rebounded today thanks to the weakening of the USD. At the same time of the survey, the US Dollar Index, which measures the volatility of the greenback, fell below the threshold of 104 points, increasing the attractiveness of gold to buyers holding other currencies.
Gold is likely to appreciate significantly as the US economy prepares to enter a period of very low growth combined with persistent inflation. If this scenario occurs, it will confirm one thing that the Fed has failed in its persistent inflation war and that further actions could damage economic growth.
Gold is likely to appreciate significantly as the US economy prepares to enter a period of very low growth combined with persistent inflation. If this scenario occurs, it will confirm one thing that the Fed has failed in its persistent inflation war and that further actions could damage economic growth.
Comment:
🔹Newspaper: Goldman Sachs used Chinese government funds to buy American companies.
Comment:
🕯 SELL GOLD | 1945 - 1942
🔴 SL: 1950
🟢 TP1: 1935
🟢 TP2: 1930
🔴 SL: 1950
🟢 TP1: 1935
🟢 TP2: 1930
Trade active:
Running + 50pips ✔️✔️✔️
Comment:
The key Non-farm payrolls number is expected to rise to 170,000, compared with a gain of 187,000 in the July report.
Comment:
The dollar index declined and government bond yields varied after the emergence of US unemployment data.
