The rise of precious metals is still limited
Gold OANDA:XAUUSD
World gold price stood at 1,896 USD/ounce, up 11 USD/ounce over the same hour last morning. The precious metal price is still struggling at the lowest level in the past 5 months.
The precious metal's rally is still being capped by rising US Treasury yields, with the technical chart remaining in a downtrend. Investors are now awaiting a speech from Fed Chairman Jerome Powell on August 25, when central banks from around the world gather in Jackson Hole for the annual conference.
Originally posted here: https://ift.tt/j9hWKUI
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