Gold is still falling freely, possibly down to 1,800 USD/ounce
Updated
Gold prices experienced a further decline during the recent closing session, currently trading at $1848 USD. This can be attributed to the Federal Reserve's persistent hawkish stance, which continues to suppress the upward trajectory of precious metals in the market. Although US bond yields have decreased slightly, they still remain relatively high at 4.55%. Additionally, the US Dollar Index has risen above 106 points, exerting additional downward pressure on gold.
The prospect of higher interest rates poses a risk for gold prices, potentially driving them down to $1,800 per ounce. However, it is worth considering that there may be an increase in demand for gold if labor conflicts persist and inflation continues to impact the US economy leading to a government shutdown.
The prospect of higher interest rates poses a risk for gold prices, potentially driving them down to $1,800 per ounce. However, it is worth considering that there may be an increase in demand for gold if labor conflicts persist and inflation continues to impact the US economy leading to a government shutdown.
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good luck everyoneNote
Gold promises to drop to the 1800 USD markNote
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