XAU increases risk of sell-off
Updated
World gold prices increased thanks to the weakening USD. Analysts say that gold still maintaining its price above 2,300 USD/ounce is a positive signal for the market. However, some other analysts believe that, in an increasingly unstable environment, any unfavorable signals for gold will lead to a sell-off in the market, causing prices to fall very deeply.
Although gold's rise has slowed, many analysts believe that the factors that have supported the precious metal in recent times have not disappeared.
In particular, concerns related to geopolitical instability are still a factor of concern for the market, especially before the US election in November.
Geopolitical instability is also causing the USD reserves of countries around the world to be shrinking and that is also the threat of global inflation remaining at high levels.
Although gold's rise has slowed, many analysts believe that the factors that have supported the precious metal in recent times have not disappeared.
In particular, concerns related to geopolitical instability are still a factor of concern for the market, especially before the US election in November.
Geopolitical instability is also causing the USD reserves of countries around the world to be shrinking and that is also the threat of global inflation remaining at high levels.
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