Gold prices today continued to decline and hit a level of 1888.545 USD/ounce, the lowest in recent declining sessions.
Gold has experienced four consecutive weeks of decline from 1,965 USD/ounce to 1,888 USD/ounce, mainly due to investor concerns about the possibility of the US Federal Reserve continuing to raise interest rates in the long term.
In addition, the yield factor of US Treasury bonds continues to rise. At the same time, the recovery of the US dollar also contributes to pushing down gold prices.
Gold has experienced four consecutive weeks of decline from 1,965 USD/ounce to 1,888 USD/ounce, mainly due to investor concerns about the possibility of the US Federal Reserve continuing to raise interest rates in the long term.
In addition, the yield factor of US Treasury bonds continues to rise. At the same time, the recovery of the US dollar also contributes to pushing down gold prices.
Comment:
"The Fed won't be able to keep rates high as the economy starts to slow. They will have to cut rates even if inflation remains high and those expectations are supporting gold prices."
