Gold prices last week saw their second consecutive week of big errors as they fell about 1% after the US consumer price index (CPI) and producer price index (PPI) reports showed continued downward pressure. play still . The precious metal has been kept in neutral range by opposing opinion around whether material losses have peaked or more yield gains remain.
In the context that US economic data cannot well support the Federal Reserve's decision to stop raising interest rates, experts say that the gold market is likely to be tested during the second half of the year. The rest go back to summer.
However, analysts note, gold's short-term slight decline should be viewed as a buying opportunity as the precious metal awaits a stronger and longer-term rally.
“Gold has a lot of competition as a safe-haven asset as it is increasingly suggested that the U.S. economy will,” said Edward Moya, senior market analyst at OANDA. obtain interest payments from the Fed. Edward Moya finds that gold is still attracting long-term interest.
In the context that US economic data cannot well support the Federal Reserve's decision to stop raising interest rates, experts say that the gold market is likely to be tested during the second half of the year. The rest go back to summer.
However, analysts note, gold's short-term slight decline should be viewed as a buying opportunity as the precious metal awaits a stronger and longer-term rally.
“Gold has a lot of competition as a safe-haven asset as it is increasingly suggested that the U.S. economy will,” said Edward Moya, senior market analyst at OANDA. obtain interest payments from the Fed. Edward Moya finds that gold is still attracting long-term interest.
