Золото / Доллар СШАКороткая
Lacking data and events to stimulate the market, gold fell sligh
Yesterday, the world gold price sometimes reached 1,930 USD/ounce when the USD depreciated compared to many other foreign currencies. The reason is said to be that the Governor of the Bank of Japan (BoJ) - Mr. Kazuo Ueda - announced that the BoJ has enough data to consider ending the negative interest rate policy by the end of 2023. As a result, investors decreased the need to hold USD, causing this currency to lose strength.
However, the latest data from the Commodity Futures Trading Commission (CFTC-USA) shows that gold investment funds are restricting trading. Specifically, these organizations reduced their buying positions by 387 contracts to 120,222 contracts, and their selling positions also decreased by 11,510 contracts to 69,857 contracts.
With this information, perhaps speculators thought the gold market would fall into unfavorable circumstances so they sold to take profits. Therefore, today's world gold price decreased slightly
The market is waiting for inflation data to get more clues about the upcoming direction of the US Federal Reserve (Fed). Specifically, the August consumer price index report will be published on Wednesday morning. CPI is expected to increase by 4.3% over the same period last year, compared to an increase of 4.7% in the July report.
Information about the European Central Bank's policy meeting this week is also of interest to investors. It is expected that this bank will slightly increase interest rates by 25 basis points.
Many analysts have noted that gold is in a neutral trading range as the sector continues to be dominated by rising bond yields and solid dollar strength.
Marc Chandler, CEO of Bannockburn Global Forex, predicts that in the near future, gold prices will be in the resistance area of 1,935 - 1,940 USD/ounce.
If gold surpasses that level, it could rise to 1,950 USD/ounce. On the other hand, if it cannot overcome the level of 1,915 USD/ounce, gold may return to 1,900 USD/ounce.
However, the latest data from the Commodity Futures Trading Commission (CFTC-USA) shows that gold investment funds are restricting trading. Specifically, these organizations reduced their buying positions by 387 contracts to 120,222 contracts, and their selling positions also decreased by 11,510 contracts to 69,857 contracts.
With this information, perhaps speculators thought the gold market would fall into unfavorable circumstances so they sold to take profits. Therefore, today's world gold price decreased slightly
The market is waiting for inflation data to get more clues about the upcoming direction of the US Federal Reserve (Fed). Specifically, the August consumer price index report will be published on Wednesday morning. CPI is expected to increase by 4.3% over the same period last year, compared to an increase of 4.7% in the July report.
Information about the European Central Bank's policy meeting this week is also of interest to investors. It is expected that this bank will slightly increase interest rates by 25 basis points.
Many analysts have noted that gold is in a neutral trading range as the sector continues to be dominated by rising bond yields and solid dollar strength.
Marc Chandler, CEO of Bannockburn Global Forex, predicts that in the near future, gold prices will be in the resistance area of 1,935 - 1,940 USD/ounce.
If gold surpasses that level, it could rise to 1,950 USD/ounce. On the other hand, if it cannot overcome the level of 1,915 USD/ounce, gold may return to 1,900 USD/ounce.
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