๐ก GOLD: Can gold maintain the 2000 USD mark?
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At the end of Tuesday's session, gold prices had their worst session since nearly a month and a half ago, after weakening more than 300 pips to below the 2030 USD/oz mark last night. As of this afternoon, the price of this metal continues to find a new bottom when it falls to the 2020 USD/oz mark and if this downward trend continues, it is highly likely that it will be difficult to maintain the 2000 USD/oz mark in today's session. .
The reason for the gold market sell-off is believed to be related to Mr. Christopher Waller - Governor of the Federal Reserve (Fed) giving a speech stating that the Fed may loosen monetary policy more slowly than before. with what the financial markets are speculating recently. According to Mr. Waller, although inflation in the US is moving towards the target, it is still unclear whether low inflation can be sustained or not.
The reason for the gold market sell-off is believed to be related to Mr. Christopher Waller - Governor of the Federal Reserve (Fed) giving a speech stating that the Fed may loosen monetary policy more slowly than before. with what the financial markets are speculating recently. According to Mr. Waller, although inflation in the US is moving towards the target, it is still unclear whether low inflation can be sustained or not.
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