Gold prices have not yet escaped the downward cycle
Updated
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Today, the price of gold has returned to its lowest level in 7 months on Wednesday as the US dollar and bond yields rose after strong US employment data, raising expectations of tighter monetary policy.
The price has dropped for seven consecutive sessions on Tuesday to touch the lowest level since March at $1,822, as the US dollar index (DXY) strengthened on data showing a surprising increase in US employment opportunities in August. Currently, there is nothing stopping this precious metal from going down, so it is natural that the price continues to decline today.
Today, the price of gold has returned to its lowest level in 7 months on Wednesday as the US dollar and bond yields rose after strong US employment data, raising expectations of tighter monetary policy.
The price has dropped for seven consecutive sessions on Tuesday to touch the lowest level since March at $1,822, as the US dollar index (DXY) strengthened on data showing a surprising increase in US employment opportunities in August. Currently, there is nothing stopping this precious metal from going down, so it is natural that the price continues to decline today.
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