Reversal to decrease when production shows signs of recovery
World gold prices reversed to decline on August 31, when China announced that the purchasing managers' index of the manufacturing sector in August increased to 49.7 points. Although this is the 5th consecutive month, this index is below the expansion threshold of 50 points, but is much higher than the 49.3 points in July and the 49.4 points previously forecast.
Along with that, on August 31, the US economy showed that the labor market was still stable, when there were only 228,000 applications for unemployment support last week, lower than the forecast of 235,000 applications and the previous week's submission of 232,000. single.
This information helped the USD move sideways in the night and morning versions. The Dolla-Index - measuring the strength of the USD in a basket of 6 major currencies, has dropped sharply by 0.47% compared to yesterday morning, reaching 103,600 points at 8:20 a.m. this morning.
The yield on 10-year US Government bonds also increased sharply by 0.7%, increasing by 4.12%/year at 8:24 am. The benefit of 2-year US government bonds increased sharply by 0.85%, up 4.867%/year.
XAUUSD BUY 1932-1934 🔽🔽
✅TP1: 1938
✅TP2: 1945
🚫SL: 1925
Along with that, on August 31, the US economy showed that the labor market was still stable, when there were only 228,000 applications for unemployment support last week, lower than the forecast of 235,000 applications and the previous week's submission of 232,000. single.
This information helped the USD move sideways in the night and morning versions. The Dolla-Index - measuring the strength of the USD in a basket of 6 major currencies, has dropped sharply by 0.47% compared to yesterday morning, reaching 103,600 points at 8:20 a.m. this morning.
The yield on 10-year US Government bonds also increased sharply by 0.7%, increasing by 4.12%/year at 8:24 am. The benefit of 2-year US government bonds increased sharply by 0.85%, up 4.867%/year.
XAUUSD BUY 1932-1934 🔽🔽
✅TP1: 1938
✅TP2: 1945
🚫SL: 1925
