Gold turned down sharply compared to the previous session

The world gold spot price is around the threshold above 2,289 USD/ounce, down more than 12 USD/ounce compared to the transaction at the same time yesterday morning. Closing yesterday's session, the world gold spot price in the US market stood at more than 2,292 USD/ounce, down 8 USD/ounce, compared to the previous session's close.

After soaring to over 2,300 USD/ounce yesterday morning, retail investors returned to take profits, causing world gold prices to fall. However, experts say that gold has not lost its appeal as the "sharks" who are the world's largest gold trust and investment funds and SPDR continue to accumulate and central banks still hoard gold. precious type as a backup, in the context of rising geopolitics in many places.

In particular, the SPDR fund in the last 3 sessions has continuously net bought from 1.72 to over 2 tons of gold per session.

Experts predict that the world gold price may increase to 2,400 USD/ounce when the US Federal Reserve (Fed) begins the process of lowering interest rates. Because interest rates are lower, it gives investors the opportunity to buy gold at cheap prices and at lower costs.

Comment:

Comment:

🔴Fed Minutes Preview: Discussions over rate outlook on focus as markets pare back chances of rapid cuts

The Federal Reserve (Fed) will release the minutes of the March policy meeting on Wednesday. Investors will pay close attention to comments regarding the inflation outlook and the possible timing of a policy pivot.

Comment:

-This year, I expect one rate cut in America in September.

-The European Central Bank is closer to cutting interest rates and inflation in Europe is heading towards decline.

-Gold continues to rise to $2,450 due to geopolitical tensions.