The price of gold today (Aug. 7), although the swing frame has been lifted from the previous day. But still moving in negative territory. The price of gold was pressured by the direction of the recovery in the dollar and government bond yields. Because the US economy still has The overall positive view of the US labor market remains strong. Even the non-farm employment figures in July Came out lower than expected. In addition, the earnings of listed companies reported higher than expected by most. Promotes the likelihood that the US economy will be able to avoid a recession. It also marks support for the US Federal Reserve (Fed) to raise interest rates again. In addition, we recommend you to keep an eye on the speech of Philadelphia Fed President Patrick Harker tonight at 7:15 p.m. . Because of Mr. Harker is one of two Fed officials who have come out to give information to the market in support of The Fed stopped raising interest rates. At the June meeting As a result, this round of announcements may lead the market to adjust its expectations of the operations. Fed’s monetary policy as well. Fed governor Michelle Bowman That is queuing to give a statement at 7:30 p.m. It is expected to continue to support the Fed to raise interest rates again. such as the announcement in the past day (Aug. 6)
advice
• Take a short-term profitable purchase. When the price can stand above the support zone of 1,933-1,927 dollars per ounce.
• buy position, cut loss If the price falls below the support area of $ 1,927 per ounce.
• Gradually sell to make a profit. If the price does not pass the resistance in the area of 1,954-1,972 dollars per ounce
This article was produced by YLG Bullion International.
For more information, contact 02-687-9888 press 1 or website ylgbullion.co.th.
2023-08-07 15:07:57
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