Gold plummeted due to the strength of the USD
Hello everyone! Currently, the price of gold is trading at 1931.4 USD/ounce, which is a decrease of 9.4 USD/ounce compared to the previous trading session. The main reason for this significant impact on gold can be attributed to the strong US dollar putting pressure on gold.
As a result, "The precious metal will depend on what happens with interest rates before the FOMC meeting in September." If interest rates decrease based on expectations, then this will be a positive development for gold.
And you, how do you feel about the gold price today?
As a result, "The precious metal will depend on what happens with interest rates before the FOMC meeting in September." If interest rates decrease based on expectations, then this will be a positive development for gold.
And you, how do you feel about the gold price today?
Kommentera:
Despite significantly easing the Fed's hawkish bets, the US Dollar remains resilient as fears of a recession in the US have eased.
