Hello all dear traders!
Gold price today decreased by 15 USD compared to last night's highest price of 2,325 USD/ounce.
Accordingly, Gold decreased slightly as investors focused more on the prospect of interest rate cuts from the US Federal Reserve (Fed). According to CME's FedWatch tool, futures traders believe there is about a two-in-three chance that the US Central Bank will cut interest rates in September.
Although prices are pressured by the interest rate outlook. But! The upside for gold, especially related to geopolitical risks and potential tensions in the banking system, is strong enough to support the precious metal.
Gold price today decreased by 15 USD compared to last night's highest price of 2,325 USD/ounce.
Accordingly, Gold decreased slightly as investors focused more on the prospect of interest rate cuts from the US Federal Reserve (Fed). According to CME's FedWatch tool, futures traders believe there is about a two-in-three chance that the US Central Bank will cut interest rates in September.
Although prices are pressured by the interest rate outlook. But! The upside for gold, especially related to geopolitical risks and potential tensions in the banking system, is strong enough to support the precious metal.
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