Overview:
It seems that the gold price is currently hovering around the important support level of $1,900, with investors looking to the FOMC minutes for insights on inflation and interest rates. The US Dollar and Treasury yields are getting stronger due to the US economy’s resilience, in contrast to China’s weak economic outlook. Robust consumer spending driven by wage growth is indicating a strong US economy, potentially leading to sustained core inflation and longer high-interest-rate periods. Fed policymakers might maintain the interest-rate policy in September due to changes in spending patterns and increased rental costs.

Gold price teeters near $1,900 as investors await FOMC minutes on inflation and interest rate information. US Dollar and Treasury yields strengthen, contrasting China’s bleak outlook.

The US economy’s resilience is evident through strong wage growth and consumer spending, potentially keeping core inflation sticky and requiring Fed policymakers to maintain high interest rates.

Technical analysis:
Gold’s price struggles to maintain support at $1,900, facing selling pressure from the US Dollar and Treasury yields. A bearish crossover from EMAs and a 200-EMA crossover have led to a decline, exposing the precious metal to greater risk. A confident collapse below this level would expose it to greater risk.

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