GOLD price may increase next week
Around 6 am on August 18, the price of gold traded at 1,890 USD/ounce, down 15 USD from the highest price last night at 1,905 USD/ounce.
Gold prices in the international market continued to weaken as investors feared risks after the US Federal Reserve expressed concerns about inflation, leaving open the possibility of interest rate hikes.
US monetary policymakers believe that future interest rate decisions will depend on macroeconomic data.
Maybe this information has spurred financial investors to increase their demand for capital in USD. Accordingly, this currency has appreciated on a large scale, which is detrimental to the gold price.
15 Wall Street analysts took part in Kitco's gold price survey. In which, 8 experts (53%) expect gold price to stay green this week. Six analysts (40%) hold a neutral view and only one analyst predicts a drop in precious metal prices.
XAUUSD BUY 1891-1893💯
✔️ TP1: 1830
✔️ TP2: 1935
SL: 1882
Gold prices in the international market continued to weaken as investors feared risks after the US Federal Reserve expressed concerns about inflation, leaving open the possibility of interest rate hikes.
US monetary policymakers believe that future interest rate decisions will depend on macroeconomic data.
Maybe this information has spurred financial investors to increase their demand for capital in USD. Accordingly, this currency has appreciated on a large scale, which is detrimental to the gold price.
15 Wall Street analysts took part in Kitco's gold price survey. In which, 8 experts (53%) expect gold price to stay green this week. Six analysts (40%) hold a neutral view and only one analyst predicts a drop in precious metal prices.
XAUUSD BUY 1891-1893💯
✔️ TP1: 1830
✔️ TP2: 1935
SL: 1882
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