Gold started to go down - 20/07/2023

Gold prices dropped from a recent peak reached the day before, as the dollar strengthened despite expectations of the US Federal Reserve pausing interest rate hikes after July.

The dollar saw a 0.2 percent increase after hitting a one-year low on July 18. This made gold, which is priced in dollars, more expensive for buyers using other currencies.

When interest rates are low, it becomes less costly to hold assets like gold that don't generate income.