Gold’s most liquid contract has closed in a slight drop, while investors maintain divergent feelings for the meeting between US presidents Donald Trump, and Russia, Vladimir Putin, as well as expectations for Fed (Federal Reserve) stance on monetary policy.
The gold-saving gold ended up 0.02%at $ 3,382.60 per jaguar at Comex, Nymex metal division (New York Bolsa). In the week, the metal retreated 3.21%.
During the session, the precious metal oscillated between gains and losses and, in the assessment of ActivTrads, the increase in risk appetite in markets diverted the active flows considered as safe haven, such as gold metal.
According to the broker, the optimism of the market increased by the extent of the commercial truce between US and China and the expectations that the meeting between Trump and Putin leads to a ceasefire in Ukraine. For the Bank swissquote, however, the summit in Alaska “seems more likely to sour than succeed.”
According to Pepperstone, gold is priced “stuck in a narrow strip” and should remain between $ 3,300 and $ 3,400 per jaguar in the short term, without light catalysts capable of breaking the impasse between high and low pressures.
According to the analysis, the strong expectations of US interest rate cuts in September and concerns about the independence of the Fed are keeping a firm floor for gold metal prices. Interest cuts usually benefit gold.
Today, the president of the Chicago Fed, Austan Goolsbee, has shown caution regarding a possible interest in interest by the US BC and argued that the institution will not react to economic data such as CPI and PPI “exaggeratedly.”
On the other hand, the nominee to the position of Fed Director and Chairman of the Economic Advisory Council (CEA), Stephen Miran, argued that inflation seems “very benign”.
*With information from Dow Jones Newswires
