Gold waits for an opportunity to increase in price amid difficul
The global gold price stands at $1,894 per ounce, increasing slightly by $2 per ounce compared to the same time yesterday.
Following the release of the Fed meeting minutes, the 10-year Treasury bond yield in the United States reached its highest level in 10 months. This caused the value of the US dollar to rise to its highest point since mid-June, reducing investor interest in gold.
Financial investors are gradually shifting their capital from safe-haven assets like gold towards investments in production and business sectors or other profitable assets. As a result, gold has lost its prominence in the market.
It is predicted that the price of gold could decline to $1,880 per ounce after breaking through two significant support levels.
Following the release of the Fed meeting minutes, the 10-year Treasury bond yield in the United States reached its highest level in 10 months. This caused the value of the US dollar to rise to its highest point since mid-June, reducing investor interest in gold.
Financial investors are gradually shifting their capital from safe-haven assets like gold towards investments in production and business sectors or other profitable assets. As a result, gold has lost its prominence in the market.
It is predicted that the price of gold could decline to $1,880 per ounce after breaking through two significant support levels.
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