USD continues to accelerate, gold drops sharply
Brian, hello everyone!
Last night, the price of gold on the market plummeted from $1,915 to $1,900 per ounce. This is the lowest price for gold in September 2023. Currently, the price has stabilized at $1,986, but the downward trend is expected to continue.
The US dollar has surged in value as investors fear the commitment to maintaining high interest rates and controlling inflation by major central banks.
In particular, policymakers at the Federal Reserve (FED) increasingly support raising interest rates by the end of 2023 to bring inflation in the US back to the 2% target, putting pressure on the price of gold to decline.
Last night, the price of gold on the market plummeted from $1,915 to $1,900 per ounce. This is the lowest price for gold in September 2023. Currently, the price has stabilized at $1,986, but the downward trend is expected to continue.
The US dollar has surged in value as investors fear the commitment to maintaining high interest rates and controlling inflation by major central banks.
In particular, policymakers at the Federal Reserve (FED) increasingly support raising interest rates by the end of 2023 to bring inflation in the US back to the 2% target, putting pressure on the price of gold to decline.
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Gold fell as indicated, reaching a low at 1891 USD
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