Gold is presently being traded at a reduced level and is gradually distancing itself from the 1900 USD per ounce threshold.
The primary cause for the decline in prices could be attributed to the Fed's "hawkish" approach. Despite mounting challenges faced by the US economy, the Fed has yet to make a conclusive decision regarding the conclusion of its tightening phase.
As a result, gold will remain stagnant until there is more clarity in terms of economic conditions. It is predicted that gold will continue its downward trajectory throughout this week.
The primary cause for the decline in prices could be attributed to the Fed's "hawkish" approach. Despite mounting challenges faced by the US economy, the Fed has yet to make a conclusive decision regarding the conclusion of its tightening phase.
As a result, gold will remain stagnant until there is more clarity in terms of economic conditions. It is predicted that gold will continue its downward trajectory throughout this week.
Comment:
What do you think about the gold price today?
Comment:
Of more than 940 survey respondents, the odds of gold price rising and falling are approximately the same, with 44% predicting the price will go up while 41% predict the opposite. Only 140 people, or 15%, have a neutral opinion.
Comment:
Trading on the market fell sharply, investors were afraid. SPDR Gold Trust, the world's largest gold exchange-traded fund, reduced its gold reserves to its lowest level since January 2020.
Comment:
This week, before the annual meeting of the Federal Reserve (Fed), gold prices are expected to remain relatively stable with minimal fluctuations.
