Gold strengthened in price
quotes reached a resistance level of $ 1768 per ounce. The global market signals say that the central banks are ready to improve major interest rates. The yield of 10-year-old government bonds of Great Britain jumped to the maximum from May 2019 against the background of the hints of representatives of the Bank of England on the possibility of tightening monetary policy.
Begins the reporting season for the third quarter. It is expected that investors will assess the impact on indicators of companies such factors as amplification inflation, supply chain problems, labour shortages and a spike in energy prices. In the event of further pressure on the most capitalized stocks, gold may strengthen in price and serve as a means of saving from turbulence in financial markets.
According to media reports, US Treasury Secretary Janet Yellen said the Republican refusal to approve an increase in the country’s public debt limit in December will be a disaster. She noted that she considers it necessary to completely abandon the US public debt limit, which in recent years, it has become mainly a political instrument. Trade activity is expected to grow tomorrow. The UK GDP focuses on the US consumer price index. Traditionally, gold can show its dependence on macrodata of developed countries.