WGC Weekly Markets Monitor: Gold Ended Last Week Flat

Going forward, monetary policy expectations are likely to take the driver’s seat of gold’s performance.

SEATTLE (Scrap Monster): According to the World Gold Council's (WGC) latest Weekly Markets Monitor Report, golf prices were unchanged at the end of the previous week. At $3,334 per ounce, the LBMA Gold Price PM did not move from the previous week. Nonetheless, the yellow metal's 28% year-to-date gains were still excellent. The trade group claims that investors were cautious for the majority of the week.

The WGC report stated that although U.S. bond yields and the U.S. dollar saw a fall due to expectations of lower interest rates, major global equities markets closed the week higher. Additionally, weekly increases in oil prices were noted.

The week's consolidation in gold prices is viewed as a brief and healthy break in the metal's main long-term upward trend. WGC anticipates that sooner rather than later, this range will rise higher. Monetary policy expectations are probably going to be the main factor influencing gold's performance in the future.

The performance of gold may also be impacted by labor market and economic data from the United States. While corporate activity and housing data surprised on the upside last week, the US labor market cooled.

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