The yellow metal, after briefly touching the $2,000 level is back down to $1,900, support provided by its EMA so far. Gold's rally this year has been partly predicated on the view that the surge in commodity prices will make already hot inflation persistent.
However, that might no longer be the case as future growth is becoming uncertain due to multiple factors, notably, China's zero Covid policy, the conflict in Ukraine, and Fed's attempt to cool down the economy.
However, that might no longer be the case as future growth is becoming uncertain due to multiple factors, notably, China's zero Covid policy, the conflict in Ukraine, and Fed's attempt to cool down the economy.