Bulls are trying to keep gold from hitting the $1900 level

World gold price this morning tended to increase with spot gold increasing by 1.3 USD compared to last week's closing level to 1,911.4 USD/ounce.

Last week, gold saw its second biggest weekly loss in a row as it fell about 1% for the week after US consumer price index (CPI) and producer price index (PPI) reports showed inflationary pressures. broadcast is still there. The precious metal has been confined to the neutral range by mixed sentiment around whether interest rates have peaked or more rate hikes remain.

The risks for the precious metal this week are the US retail sales for July on Tuesday morning and the minutes of the Fed's latest meeting on Wednesday afternoon, which should give the market an idea of who is going. consumer and how the Fed "feels" about the economy.

Commento:

In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 102.62 points.

Commento:

Precious metal prices are considered difficult to rebound strongly in the context of the USD recovering and not having many supporting factors.

Notably, the market is experiencing mixed fluctuations between the world and domestic gold prices despite the continuous decline of the world gold price.

Commento:

In international markets, crude oil prices are falling and trading around $82.25/barrel. The yield on the benchmark 10-year US Treasury note is at 4.15%.