Important US data that moves the price of gold By Investing.com

Written by Gina Lee

Investing.com – It rose in Monday morning trading in Asia and continued to rebound on what it raised on Friday, which in turn weighed on yields and the dollar.

Update at 5:10 p.m. Riyadh time

It came out a few moments ago from July, and it turned negative as it saw a drop of -1.8% and the estimate was supposed to hit 0.4%.

And gold is now registering $ 1,813.72 an ounce, down 0.17%, while it is registering $ 1,816.25, down 0.17%.

And records {{942611 | American Index}}, which measures the strength of the dollar against a basket of the foreign giant, 92.73, a marginal increase of 0.03%.

Update complete

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In addition, it rose 0.29% to reach $ 1,824 at 9:15 p.m. ET (1:15 GMT).

Gold goes up and down in a confusing way, some people think it’s random, but the scenes are still under control:

Speaking at a seminar in Jackson Hole, Wyoming on Friday, Powell did not say when the Fed would start and reiterated the position that the current rise in inflation is temporary.

Powell also suggested that the central bank could start canceling massive levels of support to the economy by the end of the year, a bit slower than many had anticipated, but he did not indicate eager to raise interest rates.

Powell also said he has improved and that if the US economy continues to recover on its current path, it may be appropriate to start reducing the pace of asset purchases this year.

Here is how we trade gold this time period:

But Powell has also made it clear that he doesn’t want the Fed to go beyond levels he calls “temporary” and in doing so discourage job growth.

Tomorrow gold awaits the release, whose negativity in the last statement caused gold to rise sharply, so will the case repeat itself again?

“There is no doubt that Powell was pessimistic about market pricing and positioning,” wrote Chris Weston, head of research at Pepperstone Financial, in a note.

While gold traders seem to view the comments as suggesting that the Fed is not planning to raise interest rates quickly.

Gold is the master, but these coins promise a quick profit:

Additionally, gold prices rebounded from Friday’s losses following Powell’s comments and held onto gains in early Asian trade on Monday.

For technical price monitoring: