Hello everyone! The price of gold today (8/9) saw a turnaround from the previous session and reached a price of 1925 USD/ounce as Fed officials provided conflicting information regarding monetary policy, which supported gold.
However, in the long run, gold still faces challenges as the demand for precious metals in China - the world's largest consumer of gold - has decreased in the early months of this year. Additionally, the strengthening factors of the USD and US Government bond yields will also put pressure on gold prices.