Dear esteemed traders! The trading session on August 29th started with a decline in the spot gold price from $1,926 to $1,917 per ounce, as the USD continued to strengthen. However, after a few hours of trading, the spot gold price quickly rebounded to $1,936 per ounce due to a rapid decrease in the USD.
The DXY index briefly reached 104.1 points before returning to 103.8 points. There is a possibility that the Federal Reserve (Fed) will raise interest rates once again in either September or November and then maintain them at higher levels in their ongoing battle against inflation.
How about you, how do you feel about gold today?
The DXY index briefly reached 104.1 points before returning to 103.8 points. There is a possibility that the Federal Reserve (Fed) will raise interest rates once again in either September or November and then maintain them at higher levels in their ongoing battle against inflation.
How about you, how do you feel about gold today?
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Earlier this week, China decided to cut taxes on the stock market and extend tax exemptions for real estate transactions to revive the capital market and the country's real estate market.
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Good luck and many big wins
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In other precious metals markets, silver prices rose 1.9% to $24.71 per ounce. Platinum prices rose 1.5% to $978.45, the highest level in a month.
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The gold market continues to have a strong uptrend and has touched the level of 1947 USD/ounce.
