The price of gold dropped close to the resistance level of $1,900 per ounce, despite the weakening of the dollar. The US Dollar Index, which measures the dollar's volatility against major currencies, fell by 0.19% to 102.135 points.
One important factor that will impact the future of gold is the condition of US banks. As geopolitical risks in Russia decrease, cash flows are returning to stock markets, putting pressure on gold.
Furthermore, the yield on the US 10-year Treasury increased to 3.83%, making it more costly to hold assets like gold that offer no yield. This has led to a decline in the price of precious metals.
One important factor that will impact the future of gold is the condition of US banks. As geopolitical risks in Russia decrease, cash flows are returning to stock markets, putting pressure on gold.
Furthermore, the yield on the US 10-year Treasury increased to 3.83%, making it more costly to hold assets like gold that offer no yield. This has led to a decline in the price of precious metals.
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Gold prices extended their slide on Wednesday to hit their lowest in 3-1/2 months on bets for interest rates remaining higher for longer
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GOLD go Plan
