2023-06-28 13:58:08
Wednesday 28 June 2023 | 04:54 p.m
Global gold prices
Global gold prices continued their decline, during trading on an ounce, today, Wednesday, corresponding to June 28, and the price of an ounce on the gold stock exchange reached 1907 dollars, after a previous close at 1913 dollars, in light of the markets’ anticipation of the speech of the head of the US Federal Reserve this afternoon, to obtain more indicators. On the direction of monetary policy during the coming period.
The global gold exchange opened its weekly trading last Monday at the previous closing level of 1920 dollars an ounce, then rose to exceed 1930 dollars, then fell affected by the issuance of new economic data in the United States.
As global gold prices were affected throughout yesterday’s trading, after US consumer confidence jumped to the highest level since early 2022, and US consumer confidence rose to 109.7 this month, which is the highest level since early 2022, from 102.5 in May, when The index exceeded analyst expectations, which came in at 103.9.
Global gold prices were also affected by the increase in durable goods orders in the United States by 1.7%, or $4.9 billion, in May, to reach $288.2 billion, according to what was reported yesterday by the US Census Bureau.
This reading followed an increase of 1.2 percent in April and was better than the market’s expectations, which indicated a 1 percent decline in orders.
Gold markets are still suffering from volatility and instability in light of the escalation of the Russian-Ukrainian crisis, and inflation, but it remains a store of value and a safe haven to hedge against inflation.
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