Gold suddenly exploded violently

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Gold prices traded actively for the fourth day in a row on Thursday and are currently hovering just below the $1,920 region, or near a two-week high hit the previous day. However, XAU/USD lacks bullish confidence, needing caution before continuing the recent bounce from the $1,885 region or the lowest since March 13 and hitting this week's top.

Amid worsening economic conditions in China, a series of manufacturing surveys released on Wednesday painted a bleak picture of the health of the global economy. Furthermore, dismal macro data for the United States (US) showed that business activity in the country with the largest economy in the world approached the point of stagnation in August.

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The world gold price gained modestly after a series of quiet days thanks to the weakening of the USD. Early this morning, the US Dollar Index, which measures the volatility of the greenback, fell 0.19%, increasing the attractiveness of gold to buyers holding other currencies.

The precious metal will face some significant challenges in the short term. Short-term Treasuries currently offer yields around 5%, which is significant competition for gold, which offers no yield and costs money to hold.

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SELL XAUUSD : 1922 - 1924

SL: 1926

TP1: 1917
TP2: 1912

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Running +25pip ✅✅

交易结束：到达目标

Plan SELL Close Full Hit TP2 + 110pips

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The BRICS will move forward using the trading currency below the dollar.

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🟢The Dow Jones Industrial Average shed 36 points, or 0.1%, after being up more than 200 points at session highs. The S&P 500 slipped 0.2%, while the Nasdaq Composite dipped nearly 0.3%.

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🟢US Congressman Warren Davidson calls for the dismissal of US Securities and Exchange Commission Chairman Gary Gensler after Greyscale's victory over the SEC.