Gold price fell when the USD bounced up - 09/08/2023
The Gold price fell when the USD bounced up. Dollar Index measures the volatility of the greenback with 6 major currencies at 102.485 points (up 0.62%).
The precious metal fell in part on the news that China had some more dismal economic data, as the world's second-largest economy saw its exports plummet.
Investors should observe the market before making a buying decision. The Fed's decision to raise interest rates could happen as early as next year.
The precious metal fell in part on the news that China had some more dismal economic data, as the world's second-largest economy saw its exports plummet.
Investors should observe the market before making a buying decision. The Fed's decision to raise interest rates could happen as early as next year.
Comment:
Gold is also under downward pressure when the closely related commodity, oil, goes down.
