The world gold price today listed on Kitco is at 1,912 USD/ounce, down 18 USD/ounce compared to early this morning.
World gold fell to a three-week low as bearish technical indicators emerged, triggering a mild sell-off.
Investors are eagerly awaiting the August consumer price index report, due Wednesday. The CPI is expected to rise 4.3% year-on-year, up from 4.7% in July. Markets are expecting a positive signal from the report. A drop in inflation could prompt the Federal Reserve to change its monetary policy stance.
Gold prices fell sharply today. (Photo: gainesvillecoins.com.jpeg)
Gold remains under pressure, but its ability to hold key support levels suggests investors may be worried that hawkish monetary policy around the world is on the right track, even as inflation remains high, experts say.
While the Fed remains hawkish, there are signs that the European Central Bank may be ready to shift to a more neutral stance on monetary policy and potentially adjust its inflation target, according to Chantelle Schieven, head of research at Capitalight Research.
Gold price movements today
+ Domestic gold price
At 6:30 a.m. on September 13, the gold price at Doji was listed at 68.1 - 68.8 million VND/tael (buy - sell), unchanged from yesterday afternoon.
Meanwhile, the gold price at SJC was listed at 68.05 - 68.85 million VND/tael (buy - sell), down 50,000 VND/tael compared to the same time yesterday.
+ International gold price
The world gold price listed on Kitco is at 1,912 USD/ounce, down 18 USD/ounce compared to early this morning. Gold futures last traded at 1,915 USD/ounce.
Gold Price Forecast
In the long term, gold prices are expected to increase, even increase sharply. On Kitco, Michael Lee, founder of Michael Lee Strategy, said that gold prices could skyrocket and reach $5,000/ounce within the next 3 years.
According to Kitco expert Michelle Makori, the majority of Americans have fallen into recession. This is reflected in the severe recession in the labor market. Gold will benefit from the falling interest rates and the US economy in crisis. Investors are looking for a safe haven in gold.
Currently, gold is strongly supported at the 200-day moving average price, around $1,920/ounce.
Ngoc Vy
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