Gold plummeted due to the strength of the USD
Updated
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?
Note
Despite significantly easing the Fed's hawkish bets, the US Dollar remains resilient as fears of a recession in the US have eased.
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