With a month to go before the Federal Reserve’s next policy meeting, market participants have ample time, economic data, and inflation figures to infer the Fed’s urgency to raise interest rates in September. However, the continued sell-off of long-term US Treasury bonds suggests growing concerns about the possibility of a Fed tightening monetary policy, the US fiscal deficit crisis, and long-term inflation risks. This has led to the 30-year US Treasury yield briefly surpassing 5.31%, a near 20-year high. Consequently, investors are likely to increase their cash-out efforts in the gold market to mitigate related risks, and gold prices may encounter profit-taking pressure around $4,466 in the short term.

Gold prices may fluctuate between $4,373 and $4,466 in the short term. Pay close attention to potential entry opportunities at the lower end of this range, as there is short-term upside potential. $4,353 can serve as a key support level; appropriate risk management is essential.

Risk Warning: This article is for market analysis purposes only. Price ranges and levels mentioned are for reference only and do not constitute any investment advice. Precious metal prices are highly volatile; please make independent and prudent decisions and manage your own risk.

Gold Price 1-Hour Chart:

Ferris Kwok

Chief Analyst
Success Finance Group

Email: ferris.kwok@successfn.com