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GOLD: Gold Higher for the Week on Rate Cut Speculation.

GOLD
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  • Gold surged on Thursday and carried over into Friday on the back of USD weakness ahead of next week’s Federal Reserve Decision.
  • Gold touched $2,565 in Asia’s morning trading session, up 0.30% on the day.
  • Gold has had a strong week and is set to finish up over 2% on last Friday’s close of $2,557.90.
  • This year’s surge in gold prices has been supported by Central Bank’s continuing to buy gold and Geo-Political tensions on the rise in the Middle East.
  • This week alone saw data from the Reserve Bank of India confirming that they continue to add to their Gold Reserves adding a further 5 tonnes in July, increasing their total reserves to approximately 850 tonnes.  
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  • Gold surged on Thursday and carried over into Friday on the back of USD weakness ahead of next week’s Federal Reserve Decision.
  • Gold touched $2,565 in Asia’s morning trading session, up 0.30% on the day.
  • Gold has had a strong week and is set to finish up over 2% on last Friday’s close of $2,557.90.
  • This year’s surge in gold prices has been supported by Central Bank’s continuing to buy gold and Geo-Political tensions on the rise in the Middle East.
  • This week alone saw data from the Reserve Bank of India confirming that they continue to add to their Gold Reserves adding a further 5 tonnes in July, increasing their total reserves to approximately 850 tonnes.