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Front Month Comex Gold for September delivery today increased from $ 41.90 (or 1.22%) to $ 3,473.70 per troy ounce. For this month, Gold received $ 180.50 (or 5.48%) per troy ounce. Gold prices have been in a row for two consecutive weeks, today a record was high.
Front Month Comex Silver for September delivery increased today to $ 1.01 (or 2.58%) to $ 40.200 per troy ounce. Silver obtained $ 3.6480 (or 9.98%) per troy ounce for this month. Silver prices have been for two consecutive weeks and four consecutive months.
In April, US President Donald Trump imposed 10% on all American imports and “mutual tariff” on many business partners. Since April, there have been concerns about the impact of these tariffs on the global economy.
Today, data released by the US Commerce Department has shown that the core PCE Price Index (except for volatile and energy prices), which is a favorite yardstick of US Federal Reserve, is a favorite yardstick of US inflation, increased by 0.3% in July in July and increased 2.9% year-on-year.
While US personal income increased to $ 25.905 trillion in July in July, individual/consumer expenses rose 0.5% to $ 20.802 trillion from June to July.
Similarly, while the PCE Price Index increased by 0.2% month in July, prices increased by 2.6% on a year-on-year basis in July.
In addition, data released by the Federal Reserve today revealed that the Central Bank Balance Sheet in the US declined to $ 6,603,384 million in the week ended on August 27 to $ 6,618,415 million to $ 6,618,415 million in the last week.
While the target of inflation of the fed is 2%, today’s data shows that the economy cannot pass where the Fed feels comfortable. However, consumer expenditure and personal income numbers have increased, “tariff war” and beyond high prices are a sign of flexibility in the economy.
When policy makers call next month, markets estimate the US Fed to reduce the borrowing rates.
According to the fedwatch tool of the CME Group, the markets see 87.2% of the 25-base-point rate cut in the September 17 Fed meeting.
The bets of August jobs and inflation figures will be high that will be released in early September before the next Fed meeting.
Gold performs well in a low-onion environment, being a non-yested property as well as a dollar-sect item.
The idea and opinion expressed here are the idea and opinion of the author and not necessarily Nasdac, Inc.
