World gold price today: Is the bulls really weak ?

Up to now, the gold price today is listed at 1,934.10 USD/ounce, down 9.5 USD compared to the close of the previous trading session.

Gold prices fell on Monday as the dollar and US Treasury yields rose after investors looked at Friday's jobs report, with attention turning to published inflation data. Dad this weekend.

My expectations remain biased towards low inflation and no interest rate hikes by the Federal Reserve.

Data on the US consumer price index (CPI) released on Thursday (August 10) will be the focus to assess whether more interest rates are needed to curb inflation.

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noted that the precious metal still faces some difficulties as economic data does not provide solid evidence that the Fed can be more easing on monetary policy.

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Also, improving jobs data could make the Fed rethink their current high interest rates. These "hawkish" comments by the Fed have discouraged investors in the metals market. The gold market is expected to trade around $1,950 an ounce throughout the summer as the Fed maintains its hawkish stance through the end of the year.

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The US will announce the consumer price index (CPI) in July. According to the forecast, the US inflation rate in July will increase by 0.2%, equal to June. If the actual increase is higher than the forecast, the possibility high is that the Fed will raise interest rates one more time and gold will be under pressure.

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Previously, many expected China's gold demand to increase sharply in the second half of this year thanks to Beijing's economic support policies and the country's gold consumption season.

However, China's real estate and retail markets are still weak. Meanwhile, exports have not improved.