The price of Gold It remains below its key level $1800 It is performing well today, but it is still better than the metals markets and currently stands at $1783. Optimism that China’s economy The global recession is growing and will be reopened. Safe-havens were prompted Market participants will begin to withdraw from the yellow metal. China announced this week it would not reduce COVID’s restrictions, which raised hopes of a quick economic recovery, despite the record-breaking rise in daily infections.
Gold prices rose by $ on Wednesday14.96 (+0.84%). To $1,785.75Following increasing warnings about rising interest rates and persistent inflation, the United States was forced to declare a recession by 2023. Additionally, Inverted US yield curveThis is a warning sign that many market participants are facing a recession. (see below)
It is worth noting, however, that Gold has experienced a significant loss in its safe haven status relative to the Dollar during the year. Recent capital flows into the yellow-colored metal are fueled by speculation that the Greenback might be at its peak.
Tomorrow all eyes will be on US Inflation Figures for November These measures measure the evolution in price pressure, despite a fall in October (6.7%)…