{"id":130103,"date":"2024-08-28T08:52:39","date_gmt":"2024-08-28T08:52:39","guid":{"rendered":"https:\/\/kinesis.money\/?p=130103"},"modified":"2024-08-28T08:52:39","modified_gmt":"2024-08-28T08:52:39","slug":"gold-holds-steady-above-2510-an-ounce","status":"publish","type":"post","link":"https:\/\/kinesis.money\/pt-br\/market-analysis\/gold-news\/gold-holds-steady-above-2510-an-ounce\/","title":{"rendered":"Gold Price News: Gold Holds Steady Above $2,510 An Ounce"},"content":{"rendered":"\n

Gold prices broadly held steady on Tuesday, although the market perked up later in the day to notch up a modest day-on-day gain.<\/p>\n\n\n\n

Prices rose as high as $2,525 an ounce on Tuesday, compared with around $2,518 an ounce in late trades on Monday. However, prices had spent most of the day trading a few dollars either side of $2,512 an ounce.<\/p>\n\n\n\n

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KAU\/USD 1-hourly Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

German consumer confidence figures came out on Tuesday showing the lowest reading since May, and worse than the market had expected, although similar figures for the US economy painted a brighter-than-expected view.<\/p>\n\n\n\n

Nevertheless, the markets have for some time been pricing in a first US rate cut next month, and barring any extreme change in fortune, it now looks unlikely that any fresh economic data would be enough to derail that expectation.<\/p>\n\n\n\n

Gold has remained supported since late last week when US Fed Chair Jerome Powell gave clear signals that it was time for interest rate cuts in the US, in a speech at the Jackson Hole Symposium \u2013 an annual meeting of central bankers \u2013 on August 23. Lower interest rates tend to support non-interest-bearing assets like gold and silver.<\/p>\n\n\n\n

Powell said there was more evidence that inflation was easing nearer to its 2% target, providing greater confidence that rate cuts would be appropriate. The markets are broadly expecting the US Fed to start cutting rates at its next scheduled meeting on September 18. However, some uncertainty persists over the size of any cut, as well as the sum total of cuts expected before the end of the year.<\/p>\n\n\n\n

Gold also continues to take a degree of support from heightened geopolitical tensions. The UN called for calm on Monday after Israel and Lebanon\u2019s Hezbollah movement in recent days staged their biggest round of cross-border military strikes since the war in Gaza began in October 2023.<\/p>\n\n\n\n

Looking ahead, the markets will be watching out for Thursday\u2019s Euro Area economic sentiment figures, US Q2 GDP growth, and US weekly initial jobless claims numbers. for the latest readings on the state of the economy.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices broadly held steady on Tuesday, although the market perked up later in the day to notch up a modest day-on-day gain.<\/p>\n","protected":false},"author":50,"featured_media":130134,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-130103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Holds Steady Above $2,510 An Ounce | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Wednesday 28th of August 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" 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