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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThis first Tuesday in August, gold remained stable. Specialists attribute this trend to the slight weakness of the USD and to the discussions on the market.
Oanda's senior market analyst Edward Moya said gold was stable at the start of trading in Asia, but could strengthen if the USD were slightly weak. A weaker dollar and deteriorating economic data are great news for the precious metal. However, technical levels are important and gold will likely need a new catalyst to break through the $1,800/oz level, Moya says. According to the specialist, if the USD continues to fall, this could be enough for the gold rally to continue. Spot gold was little changed at $1,771.69/oz.
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