Gold hit its lowest level in the past 10 months
Updated
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The price of gold continues to decline today, currently trading at $1,822 per ounce, down $25 per ounce from earlier this morning.
As of now, gold has reached its lowest level in 10 months due to the US dollar reaching its highest level in 10 months and the yield on US Treasury bonds rising to its highest level in 16 years.
Despite a significant decrease in gold prices last week, they could still continue to drop further, with the possibility of prices falling below $1,800 per ounce.
What do you think?
The price of gold continues to decline today, currently trading at $1,822 per ounce, down $25 per ounce from earlier this morning.
As of now, gold has reached its lowest level in 10 months due to the US dollar reaching its highest level in 10 months and the yield on US Treasury bonds rising to its highest level in 16 years.
Despite a significant decrease in gold prices last week, they could still continue to drop further, with the possibility of prices falling below $1,800 per ounce.
What do you think?
Note
At the time of the survey, the US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.15%; to 107.06.Note
Since breaking above the key level of $2,000 an ounce in early May, gold has fallen more than 11% in price.
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