Suddenly reversed, GOLD up
The current global price of gold has gone up by $11.46, or 0.6%, reaching $1,919 per ounce.
The increase from $1,893 per ounce indicates a strong performance in the gold market, as there is a growing belief that the recent stock market rally may not be sustainable.
If the Federal Reserve raises interest rates, gold prices are expected to decline. However, considering gold's position in the market, there is a possibility of a sell-off in equities and a significant increase in demand for safe-haven assets. This would provide short-term support for gold.
The increase from $1,893 per ounce indicates a strong performance in the gold market, as there is a growing belief that the recent stock market rally may not be sustainable.
If the Federal Reserve raises interest rates, gold prices are expected to decline. However, considering gold's position in the market, there is a possibility of a sell-off in equities and a significant increase in demand for safe-haven assets. This would provide short-term support for gold.
Note
Gold is facing a difficult environment as real yields are rising and will remain for a long time, as central banks continue to raise interest rates…
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.