Gold fluctuates strongly, long-term analysis
Updated
Greetings, readers! Greetings, everyone! The price of gold yesterday experienced minimal fluctuations, trading between $1,820 and $1,830 per ounce. Presently, gold is being traded at around $1,827 per ounce - the same as the previous day.
Following an extended period of upward momentum, the USD Index has now reversed its course and is declining. Consequently, the value of the USD has decreased in comparison to six other robust currencies such as the Euro; JPY (Japanese Yen); GBP (British Pound); CAD (Canadian Dollar); SEK (Swedish Krona), and CHF (Swiss Franc).
However,the global prices of gold have not seen any significant increase. This lack of progression can be attributed to a rebound in the US stock market after several consecutive days of decline. As a result,demand for precious metals has been minimal as investors are directing their capital towards stocks.
As a consequence,gold sellers persistently drive down prices,and currently, gold stands at 1 ,818 with projections indicating further decline to reach $ 1800. Furthermore,this downward trend is expected to continue until positive developments occur that could potentially trigger an increase in prices again.
Following an extended period of upward momentum, the USD Index has now reversed its course and is declining. Consequently, the value of the USD has decreased in comparison to six other robust currencies such as the Euro; JPY (Japanese Yen); GBP (British Pound); CAD (Canadian Dollar); SEK (Swedish Krona), and CHF (Swiss Franc).
However,the global prices of gold have not seen any significant increase. This lack of progression can be attributed to a rebound in the US stock market after several consecutive days of decline. As a result,demand for precious metals has been minimal as investors are directing their capital towards stocks.
As a consequence,gold sellers persistently drive down prices,and currently, gold stands at 1 ,818 with projections indicating further decline to reach $ 1800. Furthermore,this downward trend is expected to continue until positive developments occur that could potentially trigger an increase in prices again.
Note
I would like to emphasize that gold will have unclear fluctuations during this time, due to waiting for more new newsNote
what do you think ?Note
Waiting for news tomorrow
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