The price of gold (XAUUSD) experienced a decrease of 5.2 USD on the first day of the week, falling below 1941 USD/ounce compared to the previous week's closing level. Despite a slight recovery in the last session of the previous week, gold has suffered losses for three consecutive weeks due to the market's expectations from the US Federal Reserve (Fed) to pause interest rate increases at the June meeting.
Gold prices are heavily influenced by the interest rate adjustments made by the Fed. Recent US macroeconomic data indicates higher than expected inflation, which raises concerns about whether the Fed will continue to increase interest rates. If the Fed raises interest rates, the USD will become stronger, and the gold price will become weaker.
The resolution of the US debt crisis is likely to cause the Fed to pause interest rate increases, which would put further pressure on gold prices.
Gold prices are heavily influenced by the interest rate adjustments made by the Fed. Recent US macroeconomic data indicates higher than expected inflation, which raises concerns about whether the Fed will continue to increase interest rates. If the Fed raises interest rates, the USD will become stronger, and the gold price will become weaker.
The resolution of the US debt crisis is likely to cause the Fed to pause interest rate increases, which would put further pressure on gold prices.
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