GOLD prices suddenly increased sharply today

World gold prices today (November 21) suddenly increased sharply when inflationary pressures in the US eased and the weak economy began to cool down. Analysts say that the US Federal Reserve (Fed) is not yet ready to change the trend of tightening monetary policy, which is making it impossible for hedge funds to access gold.

Gold prices could reach $2,100/ounce despite recent data proving that the strength of the US economy shows signs of cracks. “The growth outlook will weaken significantly” starting in the fourth quarter of 2023 and continuing into the first half of next year. In the context of a recession, the Fed will have to cut interest rates more sharply than the market expected. That is the period when gold begins to set a series of new all-time highs.