The bulls are slowly regaining strength
XAUUSD is experiencing fluctuations around the level of 1,900 USD/ounce in Asian trading on Wednesday, showing signs of recovery after four consecutive weeks of losses.
However, increasing risk aversion sentiment and concerns about the Chinese economy are putting pressure on the price of Gold. These factors have the potential to impact the overall trajectory of Gold prices.
DXY is fluctuating around the level of 103.50. The decrease in US Treasury bond yields and a decline in US existing home sales could put pressure on the Greenback.
However, increasing risk aversion sentiment and concerns about the Chinese economy are putting pressure on the price of Gold. These factors have the potential to impact the overall trajectory of Gold prices.
DXY is fluctuating around the level of 103.50. The decrease in US Treasury bond yields and a decline in US existing home sales could put pressure on the Greenback.
Komen:
“Despite market volatility, especially higher real yields, gold is showing signs of stabilizing with recent gains supported by a weakening dollar on speculation China will continue to grow. continue to take many measures to restore the economy that is in recession.”
Komen:
What do you think about the gold price today?
Komen:
Although gold has faced difficulties recently, there is some optimism that the upcoming Jackson Hole Symposium will help drive up its price again.
Komen:
The world gold price gained modestly after a series of quiet days thanks to the weakening of the USD. Early this morning, the US Dollar Index, which measures the volatility of the greenback, fell 0.19%, increasing the attractiveness of gold to buyers holding other currencies.
