The world gold price in the short term is forecasted to be supported by a stronger USD as many Asian currencies are still under downward pressure. The yuan is quite light when the Chinese economy has not shown any signs of recovery. The country's real estate market is still in a gloomy situation.
The greenback was also supported by signals that the Fed will raise its next interest rate at its September meeting.
However, in the long run, the USD is considered difficult to escape the downward trend due to the Fed's monetary policy reversal and the greenback's payment power declining when many big countries, including China and China, Russia is gradually removing the dollar from transactions.
The greenback was also supported by signals that the Fed will raise its next interest rate at its September meeting.
However, in the long run, the USD is considered difficult to escape the downward trend due to the Fed's monetary policy reversal and the greenback's payment power declining when many big countries, including China and China, Russia is gradually removing the dollar from transactions.
✅ TP1: 1907
✅ TP2: 1902
🛑 SL: 1818