The daily analysis of gold from GIC this time still discusses the downward trend of gold on Friday (30/07/2021) yesterday, gold corrected again on Monday morning (02/08/2021). On Friday, the price of gold fell to a low of $1,810.23, and closed at $1,814, after reaching a high of $1,831 on Thursday (29/07/2021). The correction in gold was triggered by the strengthening of the US dollar after the hawkish statement of St. Louis Fed President James Bullard stating that tapering (one of the efforts made by the Fed, as the central bank of the United States, to reduce the rate of inflation) should be able to start in the fall of this year, and the process should end in March 2022 as US inflation rises higher than expected. This comment managed to "sink" gold because the US dollar tended to strengthen again. In contrast to Bullard, Fed Chairman Jerome Powell's more dovish statement made the US dollar "collapse" and stated the importance of employment and monitoring the economic impact due to the Delta variant of the Covid19 virus rather than just "reading" and fixating on inflation rate data. However, despite the decline in gold, many analysts are still optimistic about the rise in gold prices in August supported by the Fed's statement that did not mention the direction of asset purchase policy or interest rate hikes. Edward Moya of OANDA still shows optimism on gold prices because gold is already on the "right track" and will still see "what is coming" from the Fed. According to Moya, interest rates will remain lower for a long time, and this is good for gold. Powell also acknowledged that the Delta variant of Covid19 has increased the risk to economic growth. That's the daily analysis of gold on August 2, 2021 this time. Keep money management and risk management a priority in your trading. Also read articles and other analysis about forex in the GIC Journal. You can also participate in events from GIC such as NFP Live Trading and also get bonuses from GIC by participating in the GIC affiliate program.