XAUUSD - Increase but there is a risk of a deep decrease
The world gold price this morning continued to increase with the immediate gold price increasing by 16.7 USD, so with the trading time yesterday increased to 1,936.5 USD/ounce. December gold futures last traded at $1,964.9 an ounce, up $16.9 from the previous morning.
In midday trading on August 29 in the US, gold prices hit a three-week high. The US job turnover ratio (JOLTS) report and consumer confidence index were much lower than expected, giving fresh buying demand for the precious metal. The greenback was sold and US Treasury yields fell after a series of important data. Both of these reports belong to US monetary policy doves, who argue that the Fed has raised interest rates to slow down US economic growth. All of this marked an important start to an important week for US economic reports.
Gold price continues to recover firmly but still contains the risk that it will be lower in the near future.
The cooling labor market is driving growth in the gold market, but it is too early for advisors to see a decisive attitude in the market, according to one market strategist.
In midday trading on August 29 in the US, gold prices hit a three-week high. The US job turnover ratio (JOLTS) report and consumer confidence index were much lower than expected, giving fresh buying demand for the precious metal. The greenback was sold and US Treasury yields fell after a series of important data. Both of these reports belong to US monetary policy doves, who argue that the Fed has raised interest rates to slow down US economic growth. All of this marked an important start to an important week for US economic reports.
Gold price continues to recover firmly but still contains the risk that it will be lower in the near future.
The cooling labor market is driving growth in the gold market, but it is too early for advisors to see a decisive attitude in the market, according to one market strategist.
Comment:
Running +20Pips ✔️ ✔️
✔️ TP1: 1932
✔️ TP2: 1926
🚫 SL: 1947