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Analisdollarser states that if it can rise above $1,830 next week, the gold price is way up to $1,900. The gold market remains close to session highs, but is seeing little reaction as the momentum in the services sector has been relatively in line with expectations. Cryptocoin. com, we have compiled weekly gold expectations for you, let’s examine them together…

Analisdollarser charts a path towards $1,900 for gold next week!

On Friday, the Institute for Supply Management (ISM) dropped its non-manufacturing index 61% for August, down from 64.1% in July. He said it showed a reading of 7. According to consensus estimates, sdollarser is 61%. They predicted a reading of around 9. The gold market continues to post solid gains just below critical resistance levels following the latest k data. December gold futures were last traded at $1,829.2, up nearly 1% on the day.

Gold prices rose earlier in the session after the US Labor said 235,000 jobs were created in August and significantly missed expectations. Katherine Judge, senior st at CIBC, said ISM data and labor market figures highlight slowing growth in the US as the COVID-19 Delta variant spreads across the nation. However, he added that the slowdown may be temporary. Katherine Judge adds the following to her explanations on the subject:

Combined with the disappointing jobs report for August, this report also supports a slower pace to GDP growth in the second half of 2021 than our previous forecast, taking into account the impact of Delta variable spread. However, this will only be a temporary diversion and it looks like the Delta wave will be behind us for growth to accelerate again next spring.

Here are the critical data announced in the past week!

Looking at the components of the report, the Business Activity Dollar Series Index fell to 60.7% from 67 in July. At the same time, the New Orders Index fell to 63.2% from the previous 63.7%. Momentum in the US labor market remained relatively unchanged, with Employment data falling to 53.7% from 53.8% in July. However, the index is less important after the government’s non-farm payrolls were announced. Inflation pressures also fell slightly from higher levels. Price Index is 82% as of July. 75% from 3rd reading. dropped to 4.


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Michael Lewis

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