GOLD - bulls have no chance to rise again
Today, the price of gold in the global market experienced a slight decrease, with gold trading at $1,903.6 per ounce.
In an effort to stimulate economic recovery, the People's Bank of China (PBoC) has made the decision to reduce interest rates on its medium-term lending tool from 2.65% to 2.5%.
The robust economic recovery has led to a significant rise in the value of the US dollar, which has resulted in gold losing its prominence within the market. As a result, it has faced challenges maintaining its position and influence.
In an effort to stimulate economic recovery, the People's Bank of China (PBoC) has made the decision to reduce interest rates on its medium-term lending tool from 2.65% to 2.5%.
The robust economic recovery has led to a significant rise in the value of the US dollar, which has resulted in gold losing its prominence within the market. As a result, it has faced challenges maintaining its position and influence.
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