Gold and silver prices saw an increase on August 18th. Spot gold rose by 0.3% to $3,345.64 per ounce, and COMEX gold reached $3,390.40. Silver also increased by 0.26% to $38.075. Global economic data, central bank signals, and geopolitical situations are likely to affect prices.
Gold Price Today: Gold and silver prices saw a rise in the international market on Saturday, August 18th. After reaching a two-week low, spot gold rose by 0.3% to close at $3,345.64 per ounce, and COMEX gold increased by 0.23% to $3,390.40. Silver also reached $38.075 per ounce. Analysts believe that gold's movement this week will be determined by US housing data, Eurozone-UK CPI data, and the upcoming Federal Reserve meeting, where interest rate cuts are expected.
Latest Gold and Silver Prices
Spot gold rose by 0.3 percent to $3345.64 per ounce. This was the lowest level since August 1st, from where gold reversed and gained momentum. Meanwhile, gold on COMEX closed 0.23 percent higher at $3390.40 per ounce. Silver prices also saw a slight increase, rising by 0.26 percent to $38.075 per ounce.
Gold Recovers from Decline
Tim Waterer, chief market analyst at KCM Trade, said that gold was under pressure at the beginning of the day and prices were falling. But as buyers reached the $3330 level, demand increased and gold reversed its course and climbed. This buying changed the direction of the market and gold rebounded.
Geopolitical events are currently having a significant impact on gold prices. Investors are keeping an eye on the meeting between US President Donald Trump and Ukrainian President Volodymyr Zelensky. It is believed that discussions on a possible peace agreement with Russia could signal stability in the market. In addition, the market is closely watching the meetings of European leaders.
What to Watch Out for This Week
Analysts believe that gold's movement this week will depend on several economic and political indicators. US housing data, consumer price index figures from the UK and the Eurozone, and manufacturing and service PMI reports from major countries could affect prices.
In addition, European Central Bank President Christine Lagarde's speech and the Jackson Hole Symposium in the United States will be important for investors. Federal Reserve Chairman Jerome Powell's statement at this symposium could have a direct impact on gold prices.
First Cut Expected in September
According to a Reuters survey, economists expect the Federal Reserve to announce an interest rate cut in September. If this happens, it will be the first cut this year. In light of the growing crisis in the American economy, the possibility of a second cut by the end of the year is also being expressed. Interest rate cuts weaken the dollar, and investors turn to gold. This is why an improvement in gold prices is expected.
Impact on Indian Investors
This international activity will also have an impact on the Indian market. Fluctuations in gold prices can be seen in major cities like Delhi, Mumbai, Jaipur, and Ahmedabad. Investors in the domestic market buy based on global signals, so the impact of international gains can be seen directly in gold and silver prices.
