Gold prices today extended their upward momentum as investors continue to seek capital safety in the precious metal currently trading at 1860 USD. The reason for gold support is said to be the increasingly tense military conflict between Israel and Palestine.
On the other hand, the USD decreased in value after comments from US Federal Reserve (FED) officials, saying that the FED will not continue to tighten monetary policy because the roadmap to increase interest rates is enough to cool inflation. broadcast However, when the world gold price was trading in the region of 1,865 USD/ounce, some investors sold, leading to short selling from many others and then waiting for the price to decrease to buy back to gain profits. Therefore, the gold price at one time dropped to 1,852 USD/ounce, but quickly recovered to the previous price and is still continuing to stabilize its recovery level.