Gold price today August 16: The decline has not stopped
U.S. retail sales data released on Tuesday showed consumer spending remained strong in the country, potentially indicating more inflationary pressures in the coming months.
Investors mostly favor the dollar and Treasuries as a safer haven than gold, as risk appetite worsens amid worsening economic conditions across most globally, especially in China.
The greenback steadied near a 1-and-a-half month high on Wednesday, after recovering sharply from 2023 lows over the past month.
Investors mostly favor the dollar and Treasuries as a safer haven than gold, as risk appetite worsens amid worsening economic conditions across most globally, especially in China.
The greenback steadied near a 1-and-a-half month high on Wednesday, after recovering sharply from 2023 lows over the past month.
Comment:
Given these ongoing developments within the gold market that show little signs of improvement, investors are opting to sell their holdings in order to recover their capital.
