Winona Grant 
Gold is always heavily impacted by the strength or weakness of the dollar. Because gold is pegged to the U.S. dollar, the dollar is always a significant factor in price fluctuations.
Written by: Winona Grant
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The gold price is testing the resistance zone of $1,764.45 and $1,773.35. The ISM New Orders Index measures future demand for U.S. manufacturers and indicates a drop in the index may signal a drop in demand. As a result, analysts anticipate a decline in US nonfarm payrolls, from 372k to 250k.
Written by: Winona Grant
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The price of gold has slowed its daily gains and retreats from a level that has served as resistance for 11 weeks. Although the economy and China are both weighing on market sentiment, the US dollar isn’t helping investors take a less risky approach. Before the announcement of US NFP, traders may pay attention to Fed utterances and reports on Sino-American ties.
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On Thursday, the silver market gapped to start the day before surging to new heights in response to the dismal US GDP figure.
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As the US dollar loses some ground before the session’s end, gold holds steady. Following the Fed, US rates are under pressure, and gold bulls are once again active.
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Many people associate luxury with diamonds, which rank among the planet’s most robust materials. What about diamond stocks, the businesses engaged in everything from gem mining to gem sales, though, if “diamonds are forever”? Investors should look at the stocks of companies involved in creating these opulent items since the worldwide market for diamond jewelry is worth approximately $100 billion annually.
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On Monday, the price of gold decreases despite a little strengthening of the US dollar and a rise in US bond rates. Fears of a recession are weighing on market morale and helping the XAUUSD. The FOMC decision and this week’s significant US economic statistics remain the center of attention.
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According to Bespoke Weather Services, this month is on pace to be one of the three warmest Julys on record due to widespread high temperatures.
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Fears that the Fed’s aggressive interest rate increases would reduce the world’s demand for gasoline are likely to keep the market in a gloomy mood.
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The decision of whether to raise interest rates by 75 basis points or the more aggressive 100 basis points will be considered by gold dealers.
Written by: Winona Grant
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