Gold prices in the international market increased slightly
The Fed won't be able to keep interest rates as high as they are now when the US economy begins to slow. The Fed will have to cut rates even if inflation remains high, which could support gold prices.
Although gold has had strong selling pressure in the past 4 weeks, Schneider believes the market continues to show persistent strength. Despite selling pressure, gold remains above its March low of $1,885 an ounce.
Although gold has had strong selling pressure in the past 4 weeks, Schneider believes the market continues to show persistent strength. Despite selling pressure, gold remains above its March low of $1,885 an ounce.
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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.
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🔹Emerging markets group BRICS invites 6 new members, including Saudi Arabia and Iran.
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🟢The Dow Jones Industrial Average shed 36 points, or 0.1%, after being up more than 200 points at session highs. The S&P 500 slipped 0.2%, while the Nasdaq Composite dipped nearly 0.3%.
