The US Dollar Trend May Be the Catalyst for Gold to Break Out of Its Range
According to Jinse Finance, gold futures have risen, reversing the previous trading day's decline. David Morrison from Trade Nation pointed out that over the past 10 weeks, gold has generally remained range-bound. Traders are closely monitoring the movement of the US dollar, as a weaker dollar could make dollar-denominated gold cheaper for international buyers, thereby increasing demand for gold. Morrison noted that factors which could trigger fluctuations in the dollar include the release of the Federal Reserve meeting minutes on Wednesday and Jerome Powell's speech at Jackson Hole on Friday.
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