Gold continues to decline, breaking support levels
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Today, the price of gold continues to decline sharply, with gold falling by $24.1 to $1,875 per ounce.
The price of gold has slipped below the important psychological support level of $1,900 per ounce in this morning's trading session as the hawkish stance of the Federal Reserve continues to drive the rise in bond yields and the US dollar, suppressing the upward trend in the metal market.
Higher inflation implies higher interest rates, making metals less attractive. Selena predicted that gold will slide down to $1,850 per ounce if the market situation continues in this direction.
Today, the price of gold continues to decline sharply, with gold falling by $24.1 to $1,875 per ounce.
The price of gold has slipped below the important psychological support level of $1,900 per ounce in this morning's trading session as the hawkish stance of the Federal Reserve continues to drive the rise in bond yields and the US dollar, suppressing the upward trend in the metal market.
Higher inflation implies higher interest rates, making metals less attractive. Selena predicted that gold will slide down to $1,850 per ounce if the market situation continues in this direction.
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