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During the day, the bitcoin price fluctuated between $29,000 and $29,400, despite market-shaking news such as an increase in jobless claims or a jump in U.S. Treasury yields.The capitalization of bitcoin today dropped slightly to $567 billion, representing 48.7% of the cryptocurrency market. The total market capitalization recorded at 7:30 am is 1.164 billion USD, down 6 billion USD compared to 24 hours ago. At the same time, the 24-hour trading volume on the market decreased by 25.27% compared to August 3, reaching 29.25 billion USD.According to Reuters, Coinbase Global beat revenue expectations in the second quarter thanks to growth in interest income. Specifically, Coinbase's interest income in the second quarter of 2023 reached $201.4 million, compared with just $32.5 million a year ago.

On August 3, the price of gold on the Kitco exchange dropped $16.32 to $1,935.85 per ounce. If the labor market shows signs of recovery, it will encourage the US Federal Reserve (Fed) to continue raising interest rates, which is positive for gold. Analysts predict a slight decline in payrolls for July, but they will remain at a relatively high level.Higher interest rates and a stronger dollar are factors that may put pressure on gold prices. According to Daniel Pavillonis, a senior market strategist at RJO Futures, gold prices are currently stuck between $2,000 and $1,900.There was increased risk aversion in the markets midweek due to the unexpected downgrade of the US government's credit rating by credit rating agency Fitch. This is the first downgrade by a major credit rating agency in over a decade. Fitch cited the expected fiscal decline of the US government in the coming years as the reason for the downgrade.Traders and investors were not shaken by the sudden Fitch news, but it did somewhat dampen the market's optimism that had previously pushed US stock indexes to highs. new in the year. Initial safe-haven demand for gold was dwarfed by the aforementioned bearish external markets today.Jim Wyckoff, senior market analyst at Kitco, wrote in a report: “Traders and investors were not shaken by the sudden Fitch news, but it did somewhat alleviate the sentiment. Previous market optimism has pushed US stock indexes to new highs for the year.”The outlook for the yellow metal remains hazy, especially with US interest rates set to stay higher for longer this year. While gold is expected to benefit from the Fed's final rate cut next year, it is expected to receive limited support in the near-term.The US ADP National Employment Report for July revealed an unexpected surge of 324,000 workers, surpassing the estimated 175,000 increase. This significant rise follows a previous increase of 497,000 in the June report. The strong data is likely to impact the gold market and influence advocates of US monetary policy, who are in favor of a rate hike by the Fed.

The world gold price fell $12/ounce to $1,948/ounce, reaching a low of $1,940/ounce. This drop was influenced by negative economic data released by the US. The manufacturing PMI in July was 46.4%, slightly higher than June's 46% but lower than the expected 46.9%. The US created 9.58 million jobs in July, slightly lower than June's 9.62 million and the forecasted 9.61 million. Spending on the US construction sector increased by 0.5% in June, matching the forecast for a 0.6% increase.Gold price went down, but the world's largest gold investment recovery SPDR sold 3.75 tons of gold, the remaining gold holdings were 909.18 tons. However, the world demand for gold in the first 6 months increased 5% to 2,460 tonsThe European Union (EU) has replaced developing countries as the main gold buying markets in the world. In the first months of 2023, the total amount of gold mined also increased 2% from the record number recorded in 2018, to 1,781 tons.Juan Carlos Artigas, head of research at the WGC World Gold Council, said the banking crisis in May, when several US and European banks collapsed, created an event. Significant risks boost physical gold demand. Global uncertainty is "supporting" strong jewelry sales in key markets such as China.According to experts, a stronger USD makes oil prices more expensive. Gold "black" increases and the dollar strengthens, making gold transaction and accommodation costs also expensive. Therefore, investors took profits to reduce costs.Tim Waterer, lead market analyst at KCM Trade, said that the US jobs data released later this week will be an important indicator of interest rate adjustments from the Fed and this will affect affect the price of gold.The dollar index hit a three-week high, amid a weaker yuan after a private-sector survey showed China's manufacturing activity halted for the first time in three months. stagnant. The dollar and gold often move in opposite directions.

The rally of the US Dollar Index in the first session of the week put pressure on the precious metal priced in USD. Earlier this morning, the US Dollar Index rose 0.31% to 101.38 points, taking away the attractiveness of gold for buyers holding foreign currencies.New economic data is also negative for gold. Specifically, the Purchasing Managers' Index in the manufacturing sector remained in contractionary territory but rose more than expected to 49.3 after reaching 46 in June. Economists forecast steady activity with a rise of 46.1.The report also said activity in the manufacturing sector rose to a three-month high. Meanwhile, activity in the service sector fell to a five-month low.Economic data provides no impetus for the gold market; however, gold is holding the support at $1,950 an ounce. Chris Williamson, chief economist at S&P Global Market Intelligence, said July got off to a disappointing start and the data could continue to highlight recession threats.Gold prices traded in a tight range on Monday (July 24) as investors awaited a rate hike as expected by the market along with clues on future monetary policy from the US Federal Reserve (Fed) this week.However, the focus of the market is still on the interest rate decision of the US Central Bank on Wednesday (July 26), followed by the European Central Bank (ECB) policy meeting on Thursday (July 27). Both are expected to raise interest rates.Gold is very sensitive to interest rate hikes because it increases the opportunity cost of owning a non-yielding asset like gold.“Any unexpected dovish signal, especially from the Fed, could positively support gold, with fresh opportunities to move towards the $2,000 mark,” Carlo Alberto De Casa, market analyst at Kinesis Money, said in a note.At the time of the survey, the USD Index, a measure of the greenback's strength against its peers in a basket of currencies, was up 0.3% to 101.105.Meanwhile, the price of gold bought in euros hit its highest since July 5 at the beginning of the session on July 25 after data showed that business activity in the euro area (Eurozone) fell more than expected in July, according to Reuters.In other precious metals markets, silver fell 0.7% to $24.39 an ounce, platinum fell 0.1% to $961.01 and palladium fell 1% to $1,277.84.In a note, UBS experts forecast that platinum could experience a shortage of supply in the remaining months of 2023 because of its alternative use in automotive emission-reduction catalytic converters and low supply from South Africa.The precious metal experts said that the direction of gold in the near future largely depends on the statement of Fed Chairman Jerome Powell at the press conference.According to Moya, if the Fed continues to make the option of tightening further and the upcoming economic data is positive, it will likely cause gold to fall deeply.

Last week, 19 Wall Street analysts participated in Kitco News' gold survey. In which, 42% of analysts believe that the gold price will increase in the near future, while 42% think that the price of gold will decrease. Meanwhile, the remaining 16% of analysts think gold prices will move sideways.Meanwhile, 369 votes were cast in online polls. Of these, 221 respondents, or 60%, expect gold prices to increase in the near future. Another 95 people, or 26%, think the price of gold will be lower, while the remaining 53, or 14%, think the price of gold will go flat.Sean Lusk, co-head of trade hedging at Walsh Trading, said he remains bullish on gold given the Fed's difficulty in controlling inflationary pressures as supply issues still dominate commodity markets. However, in the short term, gold is likely to remain under pressure.Gold futures for delivery in August 2023 on the Comex New York exchange fell $ 4.3, futures fell 0.22% to $ 1,960.6 / ounce.In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 101.08 points.Gold futures for delivery in August 2023 on the Comex New York exchange fell $ 4.3, futures fell 0.22% to $ 1,960.6 / ounce.Sean Lusk, co-head of trade hedging at Walsh Trading, said he remains bullish on gold given the Fed's difficulty in controlling inflationary pressures as supply issues still dominate the overall commodity market.Lusk said that gold could drop by $50 this week if the Fed remains hawkish right after the rate hike decision. However, in the long term, the Fed has very little impact on the price trend as some commodities cannot help but increase in price due to supply problems. Many goods are in short supply. For that reason, he advises to continue buying gold when the price drops.The Fed's monetary policy meeting (July 25-26) will be the most prominent event that dominates the gold market. Markets are almost certain the central bank will continue to raise interest rates by 25 basis points. Some analysts believe that the Fed's rate hike will support the dollar and put pressure on gold.Summarizing last week, the domestic gold price turned down slightly by 100 thousand dong/tael in both buying and selling direction, despite a slight increase in the world.

The world gold price is forecasted by investors to soon return to the price level of 2,000 USD/ounce despite the US Federal Reserve (Fed) raising interest rates by 25 percentage points on July 26.However, analysts are more cautious, warning investors not to pour too much money into gold before the Fed decides to raise interest rates further.James Stanley, market strategist at StoneX, predicts a sharp increase in gold prices, but then the price of gold could fall suddenly after the Fed makes a decision to raise interest rates.James Stanley thinks that the price of gold can fall by $ 50 if the Fed shows a tough attitude immediately after raising interest ratesMeanwhile, 369 votes were cast in online polls. Of these, 221 respondents, or 60%, expect gold prices to increase in the near future. Another 95 people, or 26%, think the price of gold will be lower, while the remaining 53, or 14%, think the price of gold will go flat.Sean Lusk, co-head of trade hedging at Walsh Trading, said he remains bullish on gold given the Fed's difficulty in controlling inflationary pressures as supply issues still dominate commodity markets. However, in the short term, gold is likely to remain under pressure.Gold futures for delivery in August 2023 on the Comex New York exchange fell $ 4.3, futures fell 0.22% to $ 1,960.6 / ounce.In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 101.08 points.Gold futures for delivery in August 2023 on the Comex New York exchange fell $ 4.3, futures fell 0.22% to $ 1,960.6 / ounce.Sean Lusk, co-head of trade hedging at Walsh Trading, said he remains bullish on gold given the Fed's difficulty in controlling inflationary pressures as supply issues still dominate the overall commodity market.Lusk said that gold could drop by $50 this week if the Fed remains hawkish right after the rate hike decision. However, in the long term, the Fed has very little impact on the price trend as some commodities cannot help but increase in price due to supply problems. Many goods are in short supply. For that reason, he advises to continue buying gold when the price drops.The Fed's monetary policy meeting (July 25-26) will be the most prominent event that dominates the gold market. Markets are almost certain the central bank will continue to raise interest rates by 25 basis points. Some analysts believe that the Fed's rate hike will support the dollar and put pressure on gold.Summarizing last week, the domestic gold price turned down slightly by 100 thousand dong/tael in both buying and selling direction, despite a slight increase in the world.“Any unexpected dovish signal, especially from the Fed, could positively support gold, with fresh opportunities to move towards the $2,000 mark,” Carlo Alberto De Casa, market analyst at Kinesis Money, said in a note.

In morning trading session 24/7, spot gold price fell 0.08% to $1,959.5 per ounce, according to Kitco. Gold for August delivery also fell 0.17% to $1,963.35.Gold prices fell in Monday morning session (July 24) as the dollar anchored around a more than 1-week peak set last week, while investors looked to policy meetings of major central banks, especially the US Federal Reserve (Fed).The dollar continues to rise making gold less attractive to buyers in other currencies. At the time of the survey, the USD Index, a measure of the greenback's strength against other currencies in a basket of currencies, was up 0.03% to 100.825.The gold market reacted with a stronger dollar last week after the Bank of Japan (BoJ) signaled that it looks likely to keep monetary policy extremely accommodative this week and sees no urgency in adjusting its yield-curve control program, said Edward Moya, senior market analyst at OANDA.Lusk said that gold could drop by $50 this week if the Fed remains hawkish right after the rate hike decision.However, in the long term, the Fed has very little impact on the price trend as some commodities cannot help but increase in price due to supply problems.James Stanley, market strategist at StoneX, sees gold prices rising ahead of the Fed meeting. He said that gold's ability to hold above $1,950 an ounce would help the precious metal retest $2,000 before the Fed makes its next interest rate decision. Stanley added that gold will reverse after the Fed's decision.Among Wall Street analysts polled by Kitco News gold, 42% are bullish on gold; 16% expect gold prices to fall. Meanwhile, 60% of retail investors who took part in online Main Street polls were optimistic about gold, and 26% more bearish.James Stanley, market strategist at StoneX, predicts a sharp increase in gold prices, but then the price of gold could fall suddenly after the Fed makes a decision to raise interest rates.James Stanley thinks that the price of gold can fall by $ 50 if the Fed shows a tough attitude immediately after raising interest ratesMeanwhile, 369 votes were cast in online polls. Of these, 221 respondents, or 60%, expect gold prices to increase in the near future. Another 95 people, or 26%, think the price of gold will be lower, while the remaining 53, or 14%, think the price of gold will go flat.Sean Lusk, co-head of trade hedging at Walsh Trading, said he remains bullish on gold given the Fed's difficulty in controlling inflationary pressures as supply issues still dominate commodity markets. However, in the short term, gold is likely to remain under pressure.Gold futures for delivery in August 2023 on the Comex New York exchange fell $ 4.3, futures fell 0.22% to $ 1,960.6 / ounce.In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 101.08 points.Gold futures for delivery in August 2023 on the Comex New York exchange fell $ 4.3, futures fell 0.22% to $ 1,960.6 / ounce.Sean Lusk, co-head of trade hedging at Walsh Trading, said he remains bullish on gold given the Fed's difficulty in controlling inflationary pressures as supply issues still dominate the overall commodity market.Lusk said that gold could drop by $50 this week if the Fed remains hawkish right after the rate hike decision. However, in the long term, the Fed has very little impact on the price trend as some commodities cannot help but increase in price due to supply problems. Many goods are in short supply. For that reason, he advises to continue buying gold when the price drops.The Fed's monetary policy meeting (July 25-26) will be the most prominent event that dominates the gold market. Markets are almost certain the central bank will continue to raise interest rates by 25 basis points. Some analysts believe that the Fed's rate hike will support the dollar and put pressure on gold.Summarizing last week, the domestic gold price turned down slightly by 100 thousand dong/tael in both buying and selling direction, despite a slight increase in the world.

For now, the market seems secure with a 25 basis point gain at next week's policy meeting. According to the CME's FedWatch tool, there is a 99.8% chance that the Fed will raise rates by 25 basis points at the next meeting of the Federal Open Market Committee (FOMC), the Fed's policymaking body.The FedWatch tool is predicting that, after this month's rate hike, the Fed will pause at its September meeting with an 83.9% probability and the likelihood that interest rates will continue to hold between 5.25-5.5% through the end of the year.On the other hand, gold is also difficult to break through in the context of China's slow economic growth. In the second quarter of 2023, China recorded GDP growth of 6.3%, lower than the expectation of 6.9%. China's economic slowdown may lead to a decline in the country's demand for gold.Economists expect jobless claims to rise to 239,000.Expectations of a pause have hurt the dollar in recent weeks, while benefiting the gold market, as the interest rate outlook weakens.Many analysts say that gold is gaining in price as the market expects next week to be the last rate hike of the US Federal Reserve (Fed) of the monetary tightening cycle.Some forecasters say that this could be the beginning of a rally to $2,000/ounce of the precious metalHowever, gold is forecasted to be difficult to break through in the context of China's slow economic growth.In the second quarter of 2023, China recorded GDP growth of 6.3%, lower than the expectation of 6.9%.China's economic slowdown may lead to a decline in the country's demand for gold.In addition, the rise of the US stock market also reduced the cash flow into gold. Gold is very sensitive to a rise in US interest rates, as it increases the opportunity cost of holding the non-yielding metal.Positive information from the labor market made investors return to take profit in gold. They believe that, when interest rates increase, the dollar will strengthen, making the opportunity cost of holding gold increase.Jim Wyckoff, market analyst, predicts that gold prices could rise to $2,000 an ounce if the Fed stops its rate-raising cycle after another hike this month.Technically, the bulls have the overall near-term technical advantage. Price is in a 3 week old uptrend on the daily bar chart.The bears' next near-term downside downside objective is to push futures prices below solid technical support at the June low of $1,900.6 an ounce.The Philadelphia Federal Reserve said the manufacturing sector remains in trouble. The outlook for production and business in July is not very positive. The gold market did not have a strong reaction to this disappointing economic data.The labor market recovered strongly as the number of workers applying for unemployment benefits for the first time continued to decline. The number of weekly jobless claims fell by 9,000 to 228,000, the Labor Department said.

World gold fell slightly in response to newly released US data showing that the labor market witnessed an uptrend. Specifically, the number of workers applying for unemployment benefits for the first time continued to decline. The number of weekly jobless claims fell by 9,000 to 228,000, the Labor Department said, down from last week's unverified estimate of 237,000. Economists expect jobless claims to rise to 239,000.Precious metals were also under pressure as the dollar rose. Recorded at 9:20 am on July 21, the US Dollar Index measures the volatility of the greenback with 6 key currencies at 100,495 points.Despite the drop in prices, precious metals are still at a two-month high. Many analysts believe that gold receives support when the market expects next week will be the last interest rate hike of the US Federal Reserve (Fed) of the monetary tightening cycle.For now, the market seems secure with a 25 basis point gain at next week's policy meeting. According to the CME's FedWatch tool, there is a 99.8% chance that the Fed will raise rates by 25 basis points at the next meeting of the Federal Open Market Committee (FOMC), the Fed's policymaking body.Economists expect jobless claims to rise to 239,000.Expectations of a pause have hurt the dollar in recent weeks, while benefiting the gold market, as the interest rate outlook weakens.Many analysts say that gold is gaining in price as the market expects next week to be the last rate hike of the US Federal Reserve (Fed) of the monetary tightening cycle.Some forecasters say that this could be the beginning of a rally to $2,000/ounce of the precious metalHowever, gold is forecasted to be difficult to break through in the context of China's slow economic growth.In the second quarter of 2023, China recorded GDP growth of 6.3%, lower than the expectation of 6.9%.China's economic slowdown may lead to a decline in the country's demand for gold.In addition, the rise of the US stock market also reduced the cash flow into gold. Gold is very sensitive to a rise in US interest rates, as it increases the opportunity cost of holding the non-yielding metal.Positive information from the labor market made investors return to take profit in gold. They believe that, when interest rates increase, the dollar will strengthen, making the opportunity cost of holding gold increase.Jim Wyckoff, market analyst, predicts that gold prices could rise to $2,000 an ounce if the Fed stops its rate-raising cycle after another hike this month.Technically, the bulls have the overall near-term technical advantage. Price is in a 3 week old uptrend on the daily bar chart.The bears' next near-term downside downside objective is to push futures prices below solid technical support at the June low of $1,900.6 an ounce.The Philadelphia Federal Reserve said the manufacturing sector remains in trouble. The outlook for production and business in July is not very positive. The gold market did not have a strong reaction to this disappointing economic data.The labor market recovered strongly as the number of workers applying for unemployment benefits for the first time continued to decline. The number of weekly jobless claims fell by 9,000 to 228,000, the Labor Department said.

According to the latest updated news, on the world market, the gold price today (July 21) plunged, hitting a 3-week low.Specifically, the price of gold for August delivery on the Comex exchange fell $13, or 1%, to $1,319.3 an ounce, the lowest since June 28, according to FaceSet data. And the price of gold today on the Kitco floor is standing at 1,313.40 USD/ounce. Last session, the world gold price still increased and reached the highest level in nearly a week.Analysts predict the possibility that the US Federal Reserve (FED) may raise interest rates later this year, speculators are taking profits after gold had a good session in early July. Meanwhile, on Tuesday, the International Monetary Fund (IMF) lowered its global growth forecast for the next two years, largely due to post-Brexit uncertainties.Barnabas Gan, an analyst at OCBC Bank, thinks there is still room for a rate hike in the US. Gold, the precious metal that has rallied 25% this year, is quite sensitive to rate hikes, a development that increases the opportunity cost of holding non-yielding assets like gold.In addition, the recovery of USD also has an impact on the direction of gold. Earlier this morning, the US Dollar Index, which measures the volatility of the greenback, rose 0.51% to near 101, taking away gold's appeal to buyers of other currencies.World gold fell slightly before newly released US data showed that the labor market witnessed an uptrend. Specifically, the number of workers filing for unemployment benefits for the first time continued to decrease. The Labor Department said weekly jobless claims fell 9,000 to 228,000, down from last week's unverified estimate of 237,000. Economists expect jobless claims to rise to 239,000.The most active August 2023 gold contract fell $8.70 per ounce (or 0.44%) to 1972.10 dollars. The rally in the dollar has impacted the direction of gold prices. Accordingly, the US Dollar Index, which measures the volatility of the greenback, increased by 0.56% to 100,545 points.According to CME dataPrice retest 1951. From there it will break the top, and go up stronglyPrecious metals were also under pressure as the dollar rose. Recorded at 9:20 am on July 21, the US Dollar Index measures the volatility of the greenback with 6 key currencies at 100,495 points.Despite the drop in prices, precious metals are still at a two-month high. Many analysts believe that gold receives support when the market expects next week will be the last interest rate hike of the US Federal Reserve (Fed) of the monetary tightening cycle.For now, the market seems secure with a 25 basis point gain at next week's policy meeting. According to the CME's FedWatch tool, there is a 99.8% chance that the Fed will raise rates by 25 basis points at the next meeting of the Federal Open Market Committee (FOMC), the Fed's policymaking body.Economists expect jobless claims to rise to 239,000.Expectations of a pause have hurt the dollar in recent weeks, while benefiting the gold market, as the interest rate outlook weakens.Many analysts say that gold is gaining in price as the market expects next week to be the last rate hike of the US Federal Reserve (Fed) of the monetary tightening cycle.Some forecasters say that this could be the beginning of a rally to $2,000/ounce of the precious metalHowever, gold is forecasted to be difficult to break through in the context of China's slow economic growth.In the second quarter of 2023, China recorded GDP growth of 6.3%, lower than the expectation of 6.9%.China's economic slowdown may lead to a decline in the country's demand for gold.In addition, the rise of the US stock market also reduced the cash flow into gold. Gold is very sensitive to a rise in US interest rates, as it increases the opportunity cost of holding the non-yielding metal.Positive information from the labor market made investors return to take profit in gold. They believe that, when interest rates increase, the dollar will strengthen, making the opportunity cost of holding gold increase.Jim Wyckoff, market analyst, predicts that gold prices could rise to $2,000 an ounce if the Fed stops its rate-raising cycle after another hike this month.Technically, the bulls have the overall near-term technical advantage. Price is in a 3 week old uptrend on the daily bar chart.The bears' next near-term downside downside objective is to push futures prices below solid technical support at the June low of $1,900.6 an ounce.The Philadelphia Federal Reserve said the manufacturing sector remains in trouble. The outlook for production and business in July is not very positive. The gold market did not have a strong reaction to this disappointing economic data.The labor market recovered strongly as the number of workers applying for unemployment benefits for the first time continued to decline. The number of weekly jobless claims fell by 9,000 to 228,000, the Labor Department said.