XAUUSD : Gold trades around $2,350 to $2,365
In this morning's trading session, world gold prices rose to their highest level in nearly two weeks around 2,360 USD/ounce. Due to rising expectations that the Federal Reserve will cut interest rates in September, after recent US data showed a weakening labor market.
Ricardo Evangelista, senior analyst at ActivTrades, said: "Today's rise in gold prices is related to the weakening of the USD after Fed Chairman Jerome Powell admitted in public that inflation in the US is finally starting to move in the right direction."
Ricardo Evangelista, senior analyst at ActivTrades, said: "Today's rise in gold prices is related to the weakening of the USD after Fed Chairman Jerome Powell admitted in public that inflation in the US is finally starting to move in the right direction."
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