Gold's short-term decline is expected to reach 1900 USD
Hello everyone, today the gold market is quite calm as there is little macroeconomic data from the United States being released. The market is waiting for information from the Chairman of the Federal Reserve, Jerome Powell, on October 19th when he speaks at the New York Economic Club.
Due to this reason, gold sellers continue to push prices down, and gold is currently at $1920 with an expected decrease to $1900. This downward trend will continue until any positive developments occur that could lead to a price increase.
Due to this reason, gold sellers continue to push prices down, and gold is currently at $1920 with an expected decrease to $1900. This downward trend will continue until any positive developments occur that could lead to a price increase.
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Perhaps, because stocks in the US and Europe have increased prices, many investors have sold gold and then partially moved capital into securities. Today's gold price of the world has to drop sharply.
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Talking about gold's prospects in the fourth quarter, strong demand from India could boost gold's rise. The decline in rupee-denominated gold prices could be a catalyst for higher demand in India during the upcoming festive season.
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