World gold prices decreased in the context of the USD still main
World gold prices decreased in the context that the USD maintained its strength and bond interest rates continued to increase.
Recently, the US Federal Reserve's (Fed) consecutive changes in monetary policy have put strong pressure on the gold market, pushing prices much lower than all-time record levels.
However, even though gold is undergoing a consolidation process, many experts say that gold has many positive factors to increase its price. In particular, Saxo Bank commodity strategist Ole Hansen said that the current demand for precious metals is still strong enough to keep prices from plummeting, or even increase.
Other experts say that investors still expect the first interest rate cut in September, which is an important driving force to support gold prices.
Recently, the US Federal Reserve's (Fed) consecutive changes in monetary policy have put strong pressure on the gold market, pushing prices much lower than all-time record levels.
However, even though gold is undergoing a consolidation process, many experts say that gold has many positive factors to increase its price. In particular, Saxo Bank commodity strategist Ole Hansen said that the current demand for precious metals is still strong enough to keep prices from plummeting, or even increase.
Other experts say that investors still expect the first interest rate cut in September, which is an important driving force to support gold prices.
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