Gold price is likely to touch the level of 1930 USD ?
Hello beloved readers! The price of precious metals in the market has increased by 7 USD/ounce and reached a milestone of 1923 USD, sometimes even reaching 1925 USD.
The rise in gold prices is attributed to the decrease in the value of the US dollar. As a result, the US economy is entering a period of very low growth combined with persistent inflation, which could significantly drive up the prices of precious metals like gold. This will prompt the Federal Reserve (Fed) to cut interest rates before achieving its average inflation target of 2%.
A weaker US dollar may make commodities priced against it more attractive for buyers who do not use dollars, and precious metals such as gold and silver may have an advantage during this prolonged period of inflation stagnation.
The rise in gold prices is attributed to the decrease in the value of the US dollar. As a result, the US economy is entering a period of very low growth combined with persistent inflation, which could significantly drive up the prices of precious metals like gold. This will prompt the Federal Reserve (Fed) to cut interest rates before achieving its average inflation target of 2%.
A weaker US dollar may make commodities priced against it more attractive for buyers who do not use dollars, and precious metals such as gold and silver may have an advantage during this prolonged period of inflation stagnation.
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How do you feel about the gold price today?
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The Fed has yet to signal a reversal in monetary policy. Therefore, the USD is still considered high and has little chance of a breakout for gold.
