Forex
Dollar Dips as Gold Rises Above $4,400
The US dollar index fell for three consecutive days, while international gold prices recovered above $4,400. The decline of the dollar and rise of gold may indicate a shift in investor sentiment.
The US ADP employment change for the week ending August 22 was 12,000, which is bearish for the dollar and bullish for gold. This news contributed to the dollar's downturn.
The World Gold Council reported that global gold ETFs attracted $18 billion in inflows in August, marking the second-largest monthly inflow on record. This surge in demand suggests strong interest in gold.