Republic Explains: Here’s why gold prices are on a dip | Republic Business

    gold is losing its Shing well yes and
    here’s why gold prices took a bit of a
    dive on Tuesday heating its lowest
    levels in over 2 weeks seems like
    worries about the Middle East crisis
    calming down and some investors deciding
    to cash in on their gains were the main
    reasons behind the drop spot gold was
    down and so was the US Gold Futures the
    previous session was a rough ride for
    gold plunging over 2% in what was its
    biggest one day tumble in over a year it
    seems like once Iran said it wasn’t
    planning to retaliate after an Israeli
    drone attack folks felt a bit less
    worried about a bigger conflict gold
    prices have taken a hit recently with
    analysts pointing to reduced
    expectations of imminent rate cuts by
    the US Federal Reserve as a primary
    factor according to reports the
    possibility of a red cut might not
    materialize until September this has
    also led to a decrease in demand for
    gold as investors view it less favorably
    as a hedge against inflation moreover
    the strengthening of the US dollar and
    their rise in bond yals have contributed
    to the downward pressures on gold prices
    exacerbating the trend also looking
    forward all eyes are on the economic
    data coming out of the US later this
    week especially GDP figures on Thursday
    and the personal consumption
    expenditures print on Friday if those
    numbers come in better than expected it
    might delay any hopes of red cuts by the
    Federal Reserve which could mean more
    trouble for gold prices in the short
    term gold has experienced a remarkable
    surge in value recently jumping over 50%
    since February 2020 just before the
    covid-19 pandemic swept across the globe
    in the last two months the price has
    surged nearly 20% in the last 2 months
    alone unlike many other Commodities
    goals value is predominantly driven by
    investor perception rather than specific
    utility unlike stocks and bonds it
    doesn’t provide dividends or coupon
    payments yet despite lacking these
    features gold remains highly coveted
    central banks have been the primary
    drivers of the market institutional and
    government buyers particularly in China
    have displayed a significant appetite
    for gold further propelling its prices
    going forward this week’s US inflation
    and GDP data will provide more clarity
    on the US Federate cut which again in
    turn will give more clarity as to how
    gold prices will behave going forward

    Republic Explains: Here’s why gold prices are on a dip | Republic Business

    Gold prices saw a sharp decline on Tuesday, hitting their lowest levels in over two weeks. Reports suggest that easing tensions in the Middle East and investors capitalising on profits contributed to the drop. Spot gold fell nearly 1%, reaching $2,304.99 per ounce, while US gold futures dropped 1.2% to $2,318.80. The previous session witnessed a significant tumble, with gold plunging over 2%, marking its largest one-day decline in more than a year. Analysts attribute the recent downturn to reduced expectations of immediate rate cuts by the US Federal Reserve, dampening gold’s appeal as an inflation hedge.

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