Gold News – 08.Aug.2024

Gold News

Gold firmed up near $2,390 per ounce, recovering from previous losses.

Driven by expectations of US interest rate cuts and recession fears.

Weak US jobs report led traders to expect 105 basis points of rate cuts by year-end, with a September rate cut fully priced in.

Lower interest rates increase gold’s appeal.

Investors await jobless claims data for further economic insights.

Middle East conflict risks continue to support gold prices.

PBoC did not add to gold reserves for the third month in July.

Author : Arman Shaban
To see more analyzes of Gold , Forex Pairs , Cryptocurrencies , Indices and Stocks , be sure to Follow and Join us on other Platforms :

– Public Telegram Channel
– YouTube Channel
– TradingView
– X (Twitter)
– How to join our FOREX VIP Channel ?
– How to join our Crypto VIP Channel ?
– CONTACT ME directly on Telegram