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The price of gold is currently trading around the $1900 mark. However, it is difficult for gold to increase in value as other profitable assets such as bonds and the US dollar are strengthening. Investors are shifting from gold to other channels of profit-making, causing the price of gold to continue declining.
Although gold doesn't always trade at low levels, the sharp rise in the US dollar could potentially exert pressure on its market.
The price of gold is currently trading around the $1900 mark. However, it is difficult for gold to increase in value as other profitable assets such as bonds and the US dollar are strengthening. Investors are shifting from gold to other channels of profit-making, causing the price of gold to continue declining.
Although gold doesn't always trade at low levels, the sharp rise in the US dollar could potentially exert pressure on its market.
Comment:
According to the CME FedWatch Tool, markets see an 86.5% chance that the Fed will keep rates unchanged in the 5.25% to 5.50% range.
