Gold increases but there are still many concerns
Updated
Hello everyone! The price of gold today (8/9) saw a turnaround from the previous session and reached a price of 1925 USD/ounce as Fed officials provided conflicting information regarding monetary policy, which supported gold.
However, in the long run, gold still faces challenges as the demand for precious metals in China - the world's largest consumer of gold - has decreased in the early months of this year. Additionally, the strengthening factors of the USD and US Government bond yields will also put pressure on gold prices.
However, in the long run, gold still faces challenges as the demand for precious metals in China - the world's largest consumer of gold - has decreased in the early months of this year. Additionally, the strengthening factors of the USD and US Government bond yields will also put pressure on gold prices.
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