World gold price this morning tended to increase with spot gold increasing by 1.3 USD compared to last week’s closing level to 1,914.4 USD/ounce.
Last week, gold saw its second biggest weekly loss in a row as it fell about 1% for the week after US consumer price index (CPI) and producer price index (PPI) reports showed inflationary pressures. broadcast is still there. The precious metal has been confined to the neutral range by mixed sentiment around whether interest rates have peaked or more rate hikes remain.
The latest gold price survey shows that investors expect gold prices to achieve solid gains in the week ending August 18. Meanwhile, market analysts remain cautious as they wait for clear information from economic indicators and technical trends.