Investors remain fixated on stringent monetary policies and a significant decline in the US money supply, causing gold prices to stagnate.
It is inevitable that the US Federal Reserve (Fed), nearing the conclusion of its tightening cycle, will soon inject funds back into the financial markets to prevent an economic downturn and support growth. Consequently, this could mark the culmination of a prolonged bullish phase for gold.
However, if concerns arise among investors regarding excessive money printing by the US government, it could lead to a long-term positive outlook for gold as a safe-haven asset.
It is inevitable that the US Federal Reserve (Fed), nearing the conclusion of its tightening cycle, will soon inject funds back into the financial markets to prevent an economic downturn and support growth. Consequently, this could mark the culmination of a prolonged bullish phase for gold.
However, if concerns arise among investors regarding excessive money printing by the US government, it could lead to a long-term positive outlook for gold as a safe-haven asset.
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The USD is also supported by the still tight monetary policy of the Federal Reserve (Fed). The Fed may raise interest rates one more time in September. US banks are also tightly controlling lending conditions to ensure safety.
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The price of gold fell because the commodity closely related to gold, oil, declined. Rising bond yields also weighed on gold.
