Gold price hangs near one-week low
Today, gold prices continued their descent within a downward pricing channel, currently hovering around $2315, marking a modest decline of 0.15% for the day.
This marks the second consecutive day of decline for gold in light of the Federal Reserve's hawkish outlook. The possibility of a rate cut in September remains a topic of intense discussion, which has curbed the ascent of the USD.
Ongoing geopolitical tensions have also played a significant role in mitigating the downside for XAU/USD, providing a floor as investors navigate these uncertain waters.
This marks the second consecutive day of decline for gold in light of the Federal Reserve's hawkish outlook. The possibility of a rate cut in September remains a topic of intense discussion, which has curbed the ascent of the USD.
Ongoing geopolitical tensions have also played a significant role in mitigating the downside for XAU/USD, providing a floor as investors navigate these uncertain waters.
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