According to recent data, the US economic growth rate of 2.4% in the second quarter of 2023 exceeded expectations. This is a sign that my economy is gradually recovering.
Another reason for the gold price slide is the fear that the demand for gold from China - the world's second largest economy will decline. This comes from the Chinese economic report that shows consumer demand and commodity factors more.
Currently the market is waiting for my broadcast data to be released soon. This will be the deciding factor whether the Fed eases the weather or continues the hawkish trend.
If the Fed loosens monetary policy, it will put pressure on the USD and increase the price of gold. On the other hand, gold prices will be blocked if the Fed continues to raise interest rates.
Another reason for the gold price slide is the fear that the demand for gold from China - the world's second largest economy will decline. This comes from the Chinese economic report that shows consumer demand and commodity factors more.
Currently the market is waiting for my broadcast data to be released soon. This will be the deciding factor whether the Fed eases the weather or continues the hawkish trend.
If the Fed loosens monetary policy, it will put pressure on the USD and increase the price of gold. On the other hand, gold prices will be blocked if the Fed continues to raise interest rates.
