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Gold price today 7/5: Gold soars, buying power is high despite the strong USD again

Gold price today 7/5 continued to skyrocket, buying power increased despite the strong USD again. However, world gold failed to end this week above the key threshold of $1,900/ounce…

Gold price today 7/5: World gold failed to end the week above the important level of $1,900/ounce

World gold price updated at 7am this morning (May 7) stood at 1,883.1-1,883.6 USD/oucne (buy in – sell out), 3.7 USD lower than the price at the same time this time. yesterday morning, stood at 1,886.8-1,887.3 USD/ounce (buy in – sell out). Compared to yesterday’s closing price, gold price increase 6.2 USD, stood at 1,883.1 USD/ounce, because investors bought gold despite the strong USD again.

Gold price today 7/5: Gold skyrocketed, buying power increased despite the strong USD again - Photo 1.

Gold price today 7/5: World gold failed to end the week above the important level of $1,900/ounce

Gold price today 7/5: Gold spiked, buying power increased despite the strong USD again - Photo 2.

Gold price today 7/5

Gold price today 7/5: Gold skyrocketed, buying power increased despite the strong USD again - Photo 3.

Gold price today 7/5

Gold price today 7/5: Gold spiked, buying power increased despite the strong USD again - Photo 4.

Gold price today 7/5

The world gold price has rebounded in the afternoon session of this week (May 6) due to the weakening of the dollar, but in the momentum of recording a third consecutive week of decline because of the prospect of the US Federal Reserve (Fed ) actively raised interest rates.

However, the increase of gold price was held back by a rise in US 10-year yields, with better-than-expected jobs data increasing the likelihood of a rate hike higher.

Gold traders have essentially taken the nonfarm payrolls report as another confirmation that the US Federal Reserve will continue its run of control with rate hikes in several policy meetings. Upcoming.

Gold has failed to hold above $1,900 an ounce this week as the market reacted so erratic to the Fed’s half-point rate hike on Wednesday, while ruling out a 75-point increase at its June meeting, ending ended the week down 1.6%. The agency also emphasized that the purpose of raising interest rates is to bring inflation down to 2% and when inflation is controlled, it will decrease to a rise of 25 basis points.

Fed Chairman Jerome Powell is optimistic that the Fed can achieve its goal of cooling inflation as it tightens monetary policy aggressively this year without pushing the economy into recession.

Domestic gold price: At the end of the trading session on May 6, the domestic gold price of 9999 was listed by SJC and Doji Jewelry Group in the order of buying and selling as follows: SJC Hanoi: VND 69.7 million/tael – 70.4 million VND/tael. Doji Hanoi: 69.65 million VND/tael – 70.35 million VND/tael. SJC HCMC: 69.7 million VND/tael – 70.4 million VND/tael. Doji Ho Chi Minh City: 69.7 million VND/tael – 70.4 million VND/tael.

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