The price of gold today continued its descent, reaching 1904.69 USD/ounce.
Following several days of significant gains, the dollar has now reversed its upward trajectory. However, despite this shift in the currency market, the price of gold remains on a downward trend today. This can be attributed to investors diverting their capital into US bonds as bond yields soared to 4.3%.
Furthermore, China's economic growth has slowed down considerably, leading experts to speculate that there will be a sharp decline in demand for gold within the country. This anticipation of reduced demand is having a negative impact on current gold prices.
Given these ongoing developments within the gold market that show little signs of improvement, investors are opting to sell their holdings in order to recover their capital.
Following several days of significant gains, the dollar has now reversed its upward trajectory. However, despite this shift in the currency market, the price of gold remains on a downward trend today. This can be attributed to investors diverting their capital into US bonds as bond yields soared to 4.3%.
Furthermore, China's economic growth has slowed down considerably, leading experts to speculate that there will be a sharp decline in demand for gold within the country. This anticipation of reduced demand is having a negative impact on current gold prices.
Given these ongoing developments within the gold market that show little signs of improvement, investors are opting to sell their holdings in order to recover their capital.
