From a successful test down to its rising 18-week moving average near $2300 in late June, August Gold quickly regained the $2400 threshold before achieving a new all-time high at $2488 this Wednesday. But with gold becoming rapidly overbought, profit-taking this morning has driven the price quickly down to test support at $2400. , new momentum has been building as the Federal Reserve lays the groundwork for a potential interest rate cut in September.
Lower inflation, coupled with signs of a slowing job market, has reinforced views that the disinflation trend is back on track, drawing the Fed another step closer to cutting interest rates. Heading into the Fed’s 10-day blackout period before the next FOMC meeting on July 30-31, theWith no more Fed-speak until July 31, investors now await the July U.S.
With the gold price averaging over $250 higher in Q2 than Q1 , gold miners are expected to report record-breaking Q2 profits beginning next week, adding fuel to an already explosive technical setup. Although margin compression had taken its toll on the entire gold mining sector, the GDX managed to be down just 35% during the same time span.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
مصدر: KitcoNewsNOW - 🏆 13. / 78 اقرأ أكثر »