71 Days
Source:
الاقتصادية
Source: الاقتصادية
71 Daysالاقتصادية
Source: الاقتصادية
71 DaysReady to play
Ready to play
Gold prices have retreated from their highest levels in more than three months as investors await upcoming US inflation data and a speech by the Federal Reserve Chair later this week. The spot gold price declined by 0.2% to $1,640.39 per ounce, while US futures remained steady at $1,696, after factors such as a weaker dollar and falling US Treasury yields pushed the metal to earlier highs. The movement in gold remains dependent on the upcoming Personal Consumption Expenditures (PCE) inflation report scheduled for Wednesday, as rising inflation supports demand for the metal as a hedge. However, sustained high inflation could keep interest rates elevated, putting downward pressure on gold prices. Analysts expect gold to target resistance levels between $1,900 and $2,000 if the upward trend continues, though rising oil prices may rekindle inflationary pressures, strain yields, and limit gains. Investors are also focusing on the first speech by the Jackson Hole symposium, amid expectations of the Federal Reserve's stance on inflation and its potential impact on yields and monetary policy.
Notice: This Is an AI-Generated Summary
Comments (0)