Gold price on the first day of the new week: Will gold increase?
Gold prices showed a morning increase, with spot gold rising by $1.3 to $1,911.4 per ounce compared to last week's closing level.
After reports of inflationary pressures, gold experienced its second largest weekly decline, falling about 1%. Mixed sentiment around interest rates is keeping the precious metal in a neutral range.
The US retail sales for July and the minutes from the Fed's latest meeting will be key factors influencing gold prices this week. These reports will shed light on consumer behavior and the Fed's outlook on the economy.
After reports of inflationary pressures, gold experienced its second largest weekly decline, falling about 1%. Mixed sentiment around interest rates is keeping the precious metal in a neutral range.
The US retail sales for July and the minutes from the Fed's latest meeting will be key factors influencing gold prices this week. These reports will shed light on consumer behavior and the Fed's outlook on the economy.
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In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 102.62 points.
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Notably, the market is experiencing mixed fluctuations between the world and domestic gold prices despite the continuous decline of the world gold price.
