gold recovers after falling
In the world market, spot gold price on Kitco floor on August 19 (at 2pm, Vietnam time) traded at 1,889 USD/ounce.
The world gold market was under pressure due to the increase in US Treasury bond yields and the USD index. Yields on 10-year US Treasuries hit their highest level in 15 years. The USD index recorded a 9-week high, closing the session at 103 points.
According to Kitco News' latest weekly gold survey, Wall Street analysts see a significant drop in gold prices in the near term. Investors expect the Fed to keep rates in the 5.25%-5.5% range through 2024.
Ricardo Evangelista, senior analyst at ActivTrades said that in the long run, US interest rates will rise, supporting the dollar. This is bad news for precious metals.
In that context, the gold price may decrease, fluctuating around 1,890.4 USD/ounce, equivalent to 54.6 million VND/tael.
XAUUSD BUY 1885-1887🕯
✅ TP1: 1915
✅ TP2: 1917
️ SL: 1880
The world gold market was under pressure due to the increase in US Treasury bond yields and the USD index. Yields on 10-year US Treasuries hit their highest level in 15 years. The USD index recorded a 9-week high, closing the session at 103 points.
According to Kitco News' latest weekly gold survey, Wall Street analysts see a significant drop in gold prices in the near term. Investors expect the Fed to keep rates in the 5.25%-5.5% range through 2024.
Ricardo Evangelista, senior analyst at ActivTrades said that in the long run, US interest rates will rise, supporting the dollar. This is bad news for precious metals.
In that context, the gold price may decrease, fluctuating around 1,890.4 USD/ounce, equivalent to 54.6 million VND/tael.
XAUUSD BUY 1885-1887🕯
✅ TP1: 1915
✅ TP2: 1917
️ SL: 1880
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