This week, growing concerns that the US Federal Reserve (Fed) will keep interest rates high for longer than expected are expected to take a toll on gold as prices end the week near their lows. lowest in 5 months.
While there's still plenty of optimism that gold could recover later this year, analysts are warning investors that a lot of short-term technical damage has been done and the precious metal is likely to fall further next week.
Analysts note that, despite the fact that economic uncertainty is quite high as the Chinese economy shows signs of weakness, the precious metal has not received much interest from investors as a Talented product stay safe. Rising bond yields, which hit a 15-year high on Thursday, have turned out to be surprisingly substantial for gold.
While there's still plenty of optimism that gold could recover later this year, analysts are warning investors that a lot of short-term technical damage has been done and the precious metal is likely to fall further next week.
Analysts note that, despite the fact that economic uncertainty is quite high as the Chinese economy shows signs of weakness, the precious metal has not received much interest from investors as a Talented product stay safe. Rising bond yields, which hit a 15-year high on Thursday, have turned out to be surprisingly substantial for gold.
