An analysis of gold and dollar prices
1. Today is Monday, August 20. 2024, the global ounce decreased by 0.61% to 2,492 dollars, 18 carat gold increased by 2.39% to 3,560 million and Imami coins increased by 3.04% to 42,340,000 tomans.
2. Japanese yen beats dollar: The US dollar index fell today to its lowest level since mid-January as the Japanese yen (JPY) rallied more than 1% against the dollar. The U.S. dollar fell to a seven-month low of 102.15 against a basket of other major currencies.
3. Supporters of gold: The decline of the US dollar index, the expectations of the Federal Reserve's decision to cut interest rates and the increase in tensions between Russia and Ukraine are the main supporters of the gold price to set a new record.
4. The rumor heated up the gold market: some baseless rumors and narratives about the auspiciousness of the 13th of Safar encouraged traders and increased the demand for buying gold. Analysts believe that these narratives, although baseless, have been able to influence the market and cause prices to return.
5. Counterfeit gold bullion for buyers: The price of gold bullion last week hit a new record high of $2508. Many analysts see the new record as a sign of rising gold prices, while some believe that gold buyers will suffer in the rest of the week.
6. Gold price prediction: If the price of gold continues to fluctuate today and the price of the dollar is in the current range; The gold and coin market is also going up along with Anas. But if the price of the dollar fluctuates again with the increasing fluctuation of the gold annas and goes down; The ability to climb in the gold and coin market will be low. But if the price of gold has been decreasing since the opening of the global markets, the possibility of a decrease in the gold and coin market will be provided.
