InfoQuest – Gold futures prices have risen. Responding to the expectation that the Federal Reserve (Fed) will cut interest rates in September. Meanwhile, geopolitical tensions have encouraged investors to buy gold as a safe haven asset.
At 8:18pm Thai time, gold contracts on the COMEX (Commodity Exchange) market will be delivered in December. Up 10.60 or 0.43% to $2,484/oz.
Gold prices are supported by geopolitical tensions. This includes the escalating conflict situation in the Middle East. Iran vows to take revenge on Israel After the assassination of Mr. Ismail Haniyeh, the political leader of the Hamas group. in Tehran, the capital of Iran on July 31
In addition, the situation of conflict between Russia and Ukraine has become more tense. By last week Ukrainian forces have broken through the Russian border and advanced into parts of the Kursk region in western Russia. Although Russia was able to maintain stability in the Kursk region, But Ukraine still controls some Russian territories. As fighting continues in the region, Russia is forced to evacuate citizens from another region that borders Ukraine today. After Ukraine increased military activity near the border
Investors are watching the US economic data that will be released this week. After the United States previously released figures for non-farm payrolls in July that were lower than expected. and the unemployment rate rose to its highest level in nearly 3 years, giving investors more confidence that the Fed may cut interest rates by as much as 0.50% at the next their monetary policy meeting on September 17-18.
The US is expected to release the Producer Price Index (PPI) for July on Tuesday (August 13), followed by the Consumer Price Index (CPI) for July on Wednesday (August 14.) and sales sale in july thursday (15 august)
2024-08-12 19:53:42
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