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Gold plummeted this week, unable to turn
Alexia greets everyone!
Currently, the price is trading at $1936, unchanged from the previous trading session.
Gold information:
The Fed chairman continues to support the strength of the USD and high bond yields. These are significant obstacles for gold. Due to the tightening trend of the Fed, there is not much incentive to buy gold at this time.
Meanwhile, tensions in the Middle East do not have a significant impact on the price of gold. Although Israel continues its ground attacks on Gaza in a new conflict with Hamas, the conflict has been restrained so far.
Alexia's personal view for this week:
In the short term, the price may test the $1,900/ounce level and could potentially decrease further.
What is your perspective? Do you agree with me or not?
Currently, the price is trading at $1936, unchanged from the previous trading session.
Gold information:
The Fed chairman continues to support the strength of the USD and high bond yields. These are significant obstacles for gold. Due to the tightening trend of the Fed, there is not much incentive to buy gold at this time.
Meanwhile, tensions in the Middle East do not have a significant impact on the price of gold. Although Israel continues its ground attacks on Gaza in a new conflict with Hamas, the conflict has been restrained so far.
Alexia's personal view for this week:
In the short term, the price may test the $1,900/ounce level and could potentially decrease further.
What is your perspective? Do you agree with me or not?
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