Gold has reached 1900 whether it is still increasing or not?
The price of gold has experienced a slight increase and currently stands at $1900, but the potential interest rate hike by the US Treasury Department at the beginning of the trading week and the continued downward trend on charts are limiting the metal's upward movement.
Trading may be more subdued this week. "Another price increase in the dollar could prolong or further adjust gold prices. However, when the dollar strengthens, I anticipate that precious metals market will continue to grow significantly. Gold speculators currently need to exercise a bit more patience."
Trading may be more subdued this week. "Another price increase in the dollar could prolong or further adjust gold prices. However, when the dollar strengthens, I anticipate that precious metals market will continue to grow significantly. Gold speculators currently need to exercise a bit more patience."
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While we expect Mr. Powell to issue a neutral stance at the upcoming Jackson Hole, gold is unlikely to rally in the short-term, said James Stanley, market strategist at Stone X.
