Gold price is quite stable
Gold prices remained stable in today's session, with Spot Gold holding at $1,982.84 per ounce and Gold Futures dipping slightly by 0.2% to $1,991.35. This stability comes as market participants eagerly await important monetary policy announcements from the Federal Reserve and the Bank of England.
The consolidation in gold prices follows a sharp increase in the previous month, driven by escalating tensions in the Middle East. This escalation was exacerbated by Israeli airstrikes in Gaza, resulting in 50 Palestinian casualties, including a Hamas commander. Israeli Prime Minister Benjamin Netanyahu confirmed the ongoing conflict with Hamas.
Investors are now shifting their focus to potential interest rate changes, manufacturing activity, construction spending, and US employment data amid concerns of an impending recession. They are particularly interested in Federal Reserve Chairman Jerome Powell's insights into interest rate adjustments.
The consolidation in gold prices follows a sharp increase in the previous month, driven by escalating tensions in the Middle East. This escalation was exacerbated by Israeli airstrikes in Gaza, resulting in 50 Palestinian casualties, including a Hamas commander. Israeli Prime Minister Benjamin Netanyahu confirmed the ongoing conflict with Hamas.
Investors are now shifting their focus to potential interest rate changes, manufacturing activity, construction spending, and US employment data amid concerns of an impending recession. They are particularly interested in Federal Reserve Chairman Jerome Powell's insights into interest rate adjustments.
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