Gold Prices Dip in Asian Trade Amidst Market Uncertainties

8 Agu 2023

Early Asian trading has witnessed a decline in gold prices. The valuable metal has been retracing in recent months due to ongoing concerns in the market regarding the Federal Reserve's tightening course. However, analysts from Zheshang Securities propose that the metal might have already reached a bottom, adequately factoring in most of the negative risks associated with potential further Fed rate hikes this year. Furthermore, as uncertainties surrounding the global economy and geopolitical tensions rise, the enduring appeal of the safe-haven asset to investors and buyers is expected to persist, according to the analysts. As a result, they believe that gold prices are unlikely to experience significant downward movement from their current level. At present, spot gold has dipped by 0.3% to $1,931.30 per ounce.


XAUUSD SELL LIMIT 1940 - 1942🔥🔥

TP1 ✔️ 1936
TP2 ✔️ 1932

SL ❌ 1946