- Analytics
- News and Tools
- Market News
- Gold price unchanged for the day
Gold price unchanged for the day
Gold prices little changed in a low activity monday market.
Speaking at the annual symposium in Jackson Hole, Yellen said that against the background of improved economic conditions in the labor market, the probability of raising interest rates rose. However, she clarified that the next steps will be based on macroeconomic data. "Our decisions always depend on the extent to which the next data continue to confirm the Fed's forecasts", - said Yellen. Judging by the comments, if rates are not increased in September, it is expected to rise at a future meeting.
"The pressure on gold is likely to increase as approaching September, and market participants are now increasingly expect a rate hike", - INTL FC Stone said.
In addition, data from Commodity Futures Trading Commission showed that in the week to 23 August, hedge funds and money managers increased their net long position in gold.
The cost of the August gold futures on COMEX fell to $ 1319.0 per ounce.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
