Gold price today 9-2: Strong fluctuations due to series of economic data from the US

(NLDO) – Gold prices today, September 2, continue to fluctuate unpredictably as the international market will receive a series of important economic data from the US this week.

Gold price today fluctuates unpredictably

At around 6:30 a.m. this morning (Vietnam time), the price of gold today on the international market was recorded at 3,477 USD/ounce, up 29 USD/ounce compared to the closing price last weekend (3,448 USD/ounce). This is the highest price in more than 4 months, driven by expectations that the US Federal Reserve (FED) will cut interest rates in the near future and the weakening of the USD.

The decline in the value of the US dollar has created favorable conditions for gold prices to increase, as gold tends to move in the opposite direction to the US dollar. In addition, optimism that the Fed may ease monetary policy amid stable inflation has also contributed to the increase in gold prices.

However, analysts warn that the gold market may face strong fluctuations in the next few days, when the US releases a series of important economic data, including: August Purchasing Managers' Index (PMI) from the Institute for Supply Management (ISM - US), August Employment Report and weekly unemployment claims data will be important indicators, directly affecting the Fed's interest rate policy decision. If the data shows weakness, gold prices may continue to increase sharply.

In Vietnam, at the end of September 1, SJC gold was sold at 130.6 million VND/tael, while ring gold was sold at 125 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-2-9-bien-dong-manh-do-loat-du-lieu-kinh-te-tu-my-196250902065305499.htm