Gold rises as dollar depreciates

Gold prices have rebounded today as the US dollar weakens and exploration takes place. The US dollar index, which measures the fluctuation of the currency, has dropped below the standard level of 104 points, increasing the attractiveness of gold for buyers using other currencies.

Gold is showing a significant upward trend as the US economy enters a period of very low growth along with unchanged inflation rates. If this situation occurs, it will confirm that the Fed has failed in its prolonged battle against inflation. And future actions could harm economic growth.

Comment:

Gold still stands at 1,900 USD/ounce. This is a very important psychological support level. Demand usually increases again when gold closes to this level.