The current trading price of gold is stable at around $1935 USD, but there are still potential threats to the future of gold in the market.
Although gold is facing short-term fluctuations, this precious metal continues to benefit from the ongoing market instability. The US labor market remains a key factor influencing the price of gold. The Federal Reserve (FED) has sent a clear signal that they need to see more sluggishness in the labor market before inflation tends to return to its 2% target.
Although gold is facing short-term fluctuations, this precious metal continues to benefit from the ongoing market instability. The US labor market remains a key factor influencing the price of gold. The Federal Reserve (FED) has sent a clear signal that they need to see more sluggishness in the labor market before inflation tends to return to its 2% target.
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According to the CME FedWatch tool, traders now see an 86% chance of the Fed leaving interest rates unchanged at its September meeting, up from 78% before the data.
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According to the US Bureau of Economic Analysis' second quarter gross domestic product report, the economy grew by 2.1%, lower than expectations.
