The rise of precious metals is still limited
World gold price stood at 1,896 USD/ounce, up 11 USD/ounce over the same hour last morning. The precious metal price is still struggling at the lowest level in the past 5 months.
The precious metal's rally is still being capped by rising US Treasury yields, with the technical chart remaining in a downtrend. Investors are now awaiting a speech from Fed Chairman Jerome Powell on August 25, when central banks from around the world gather in Jackson Hole for the annual conference.
The precious metal's rally is still being capped by rising US Treasury yields, with the technical chart remaining in a downtrend. Investors are now awaiting a speech from Fed Chairman Jerome Powell on August 25, when central banks from around the world gather in Jackson Hole for the annual conference.
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