Closing the weekly trading session, world gold price stood at 1,938 USD/ounce, down sharply to 54 USD/ounce compared to last week's closing session. For the whole week, gold decreased by up to 3% in value, marking the worst week of price decline in the past 6 weeks.
There are no new developments in tensions in the Middle East, the USD continues to strengthen, the US Federal Reserve (Fed) maintains a "hawkish" stance,... are factors that have a negative impact on gold prices. world last week.
Gold's safe-haven demand is weakening as conflict tensions in the Middle East are not changing much. Fed Chairman Jerome Powell's statements that the central bank is still willing to raise interest rates have a big impact on gold. Unless new developments change this view, gold will witness another slight price decline next week.
There are no new developments in tensions in the Middle East, the USD continues to strengthen, the US Federal Reserve (Fed) maintains a "hawkish" stance,... are factors that have a negative impact on gold prices. world last week.
Gold's safe-haven demand is weakening as conflict tensions in the Middle East are not changing much. Fed Chairman Jerome Powell's statements that the central bank is still willing to raise interest rates have a big impact on gold. Unless new developments change this view, gold will witness another slight price decline next week.
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