World gold price today : Gold will touch 1900 USD ?

Today, the world gold price is $1,917.45 per ounce, down $8.76 from the previous session.

China's economy has entered deflation for the first time in two years due to weaker consumer demand. This has led investors to seek safe havens like the dollar, putting pressure on dollar-denominated commodities such as gold.

However, the US economy has shown resilience, leading to increased demand for crude oil. The upcoming US inflation report on August 10 will be influential, but the report next month will be even more important. As a result, gold prices may continue to struggle and shrink in the short term.

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In key external markets saw the US dollar index slightly lower. Nymex crude oil prices are higher and trading around $84 a barrel. Meanwhile, the benchmark 10-year US Treasury bond yield is currently at 4.182 percent.

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Following this development, long-term US government bond yields fell, making non-yielding precious metals like gold more attractive. The dollar index, which measures the strength of the greenback against a basket of major currencies, also fell 0.2%, away from the highs recorded in the previous session.

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The gold market continues to face difficulties when the US Federal Reserve (FED) is still maintaining the monetary tightening cycle, keeping investors out of the market until the Fed has a more definitive answer on the issue. interest rate direction.

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CPI recorded a 3.0% increase in the June report. Meanwhile, the US weekly jobless claims report was slightly higher than expected. Although both reports are tilted in favor of the US Federal Reserve (Fed) will ease monetary policy, but it does not seem to be enough to reverse the trend for gold.