The world price of gold today, July 26; $2,433 and 50 cents per ounce
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It should be noted that investors are waiting for the statements of the US Federal Reserve officials and the country’s economic data to get more clues about the US central bank’s interest rate policy.
Jerome Federal Reserve Chairman Powell will give a speech today, and several other officials of the bank will also speak in the coming days. This week they talk about the policies of this bank. Information on retail sales, industrial production and the unemployment rate will be released this week.
The release of this information can emphasize the need for an early reduction in interest rates, which will benefit gold. If gold crosses the $2450 mark, it will reach a new record.
Markets have a 93% probability that the first interest rate cut by the US central bank will take place in September. Lowering the interest rate lowers the cost of keeping gold as a non- profitable capital and increases the desire to buy it.
