Will gold price next week increase or decrease?

It is a pleasure to meet you all and discuss the market situation this week! Gold is currently trading at 19449 - 1945 USD/ounce on September 4th.
Last week, gold saw a significant increase of more than 21 USD/ounce after the release of the non-farm payroll report on Friday. The global gold market continues to show slight fluctuations and is currently hovering around the $1,940 mark. However, the US dollar is strengthening.

At the time of this survey, the US Dollar Index (DXY), which measures the movement of major currencies (EUR, JPY, GBP, CAD, SEK, CHF) against the greenback rose by 0.02% to reach 104.25.

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Gold will shine if there are signs that the Fed will cut interest rates.

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“I expect gold to rise in the long term, but that doesn't mean we can't waver and retest $1,900 an ounce again.”

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Marc Chandler - Managing Director at Bannockburn Global Forex also expects gold prices to increase this week.

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Chief market strategist at Blue Line Futures, currently does not see any factors that can stop the rise in bond yields.

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The US Bureau of Economic Analysis' report on second-quarter gross domestic product showed that the economy grew by 2.1%, lower than expectations.

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Gold is expected to undergo significant changes in response to the upcoming monetary policy meeting of the Federal Reserve on September 19-20. We hope that gold prices will continue to receive strong support.

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Gold is going in the right direction

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The US market is closed for Labor Day, so there is not much information affecting gold trading