GOLD - Soaring as consumer confidence plummets
The current gold price is trading quite firmly around the price range of 1936 USD/ounce. Gold increased due to the weakening of the USD in the short term.
Today, the US will release GDP growth figures for the second quarter of 2023. The GDP forecast for the second quarter of 2023 will be at 2.4%, in line with the previous report. If US GDP increases, gold prices will decrease. On the contrary, when the US GDP decreased, gold continued to be supported, because the USD continued to fall when the economic information was less positive.
Today, the US will release GDP growth figures for the second quarter of 2023. The GDP forecast for the second quarter of 2023 will be at 2.4%, in line with the previous report. If US GDP increases, gold prices will decrease. On the contrary, when the US GDP decreased, gold continued to be supported, because the USD continued to fall when the economic information was less positive.
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Good luck and many big wins
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In other precious metals markets, silver prices rose 1.9% to $24.71 per ounce. Platinum prices rose 1.5% to $978.45, the highest level in a month.
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The precious metal will continue to establish itself as a global store of value, attracting a new generation of investors who have experienced unprecedented volatility.
