Last week, the Fed raised the interest rate by 75 basis points to 3.25. After Fed chairman Powell's statement that the next rate hike will depend on future data, the downward trend in gold continued and the gold price decreased to $1,640 per ounce. The data coming from the USA in the coming weeks will determine the course of gold.
In the EURO region this week, ECB chief Lagerde's speech follows the UK quarterly Gross Domestic Product data; On the US side, we will follow Fed Chairman Powell's speech, August monthly core durable goods orders, August new home sales, crude oil stock data, 2nd quarter Gross Domestic Product data.
When we look at the ounce gold price on a weekly basis; Attention should be paid to the level of $ 1.642 below and $ 1.676 above.