Weakened Dollar Boosts Gold Prices Amid Increased Demand

The gold market saw a boost in trading on August 24th as the US dollar weakened due to investors questioning the effectiveness of the Treasury's efforts to calm the bond markets.

This led to an increase in demand for gold, which is also being driven by robust investment and central bank purchases, particularly from China.

The target price for buying gold was set at 161000 with a stop loss at 160000 and a target range of 162500-163500 on the MCX.