GOLD - After the nonfarm news, will gold rise again?
On the world gold market, the spot gold price at yesterday's session in the US increased by 7.1 USD to 1,992.2 USD/ounce. In the Asian session this morning, gold price reversed and dropped to 1,987.1 USD/ounce.
Gold should have exceeded $2,000 but that did not happen. So I think that will cause gold to lose a little bit of momentum.
Gold has surged due to inflation, Middle East geopolitics and its inverse correlation with interest rates. But then interest rates have come down significantly because inflation is starting to come down a bit. Additionally, the stock market is starting to move higher, so flows into precious metals may be dampened.
Gold should have exceeded $2,000 but that did not happen. So I think that will cause gold to lose a little bit of momentum.
Gold has surged due to inflation, Middle East geopolitics and its inverse correlation with interest rates. But then interest rates have come down significantly because inflation is starting to come down a bit. Additionally, the stock market is starting to move higher, so flows into precious metals may be dampened.
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