Gold prices are currently trading around the $1,889.5 per ounce mark and continue to trend downwards after several days of decline. There are concerns that the Federal Reserve's efforts to combat inflation by keeping interest rates high for longer than expected will have a significant impact on gold prices. This past week, gold reached its lowest level in five months.
Although there is an expectation that gold prices will rise in the coming months, short-term price action should not be overlooked by investors. "I believe we will see a decrease in gold prices next week, but that won't change the long-term outlook," said one expert.
In summary, while gold has been experiencing downward pressure recently due to concerns over inflation and interest rates, there remains optimism for its long-term prospects. Investors should closely monitor short-term price movements while keeping an eye on broader market trends.
Wish you smooth trading and many big wins
Although there is an expectation that gold prices will rise in the coming months, short-term price action should not be overlooked by investors. "I believe we will see a decrease in gold prices next week, but that won't change the long-term outlook," said one expert.
In summary, while gold has been experiencing downward pressure recently due to concerns over inflation and interest rates, there remains optimism for its long-term prospects. Investors should closely monitor short-term price movements while keeping an eye on broader market trends.
Wish you smooth trading and many big wins
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How do you see the gold price today?
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He also maintains a long-term bullish outlook for gold but sees a downside risk this week, said Ole Hansen, head of commodity strategy at Saxo Bank.
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The price of gold this week is still a mystery, many investors are hoping that the real gold price will not surpass the price mark of 1880 USD.
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The market received some support when the USD Index experienced a slight decrease of 0.1%. However, US 10-year yields continued their upward trend and reached 4.3439%, marking their highest level since October.
