World gold price stood at 1,896 USD/ounce, up 11 USD/ounce over the same hour last morning. The precious metal price is still struggling at the lowest level in the past 5 months.
The precious metal's rally is still being capped by rising US Treasury yields, with the technical chart remaining in a downtrend. Investors are now awaiting a speech from Fed Chairman Jerome Powell on August 25, when central banks from around the world gather in Jackson Hole for the annual conference.
The precious metal's rally is still being capped by rising US Treasury yields, with the technical chart remaining in a downtrend. Investors are now awaiting a speech from Fed Chairman Jerome Powell on August 25, when central banks from around the world gather in Jackson Hole for the annual conference.
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- Traders reduce short positions to the lowest level since June 2022 for the S&P 500 index.
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- US asks China to be more transparent on economic data amid slowdown - Financial Times.
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US bank Evercore: The Fed's tightening of monetary policy ended the golden age of investment.
