International Gold at $60
The price of gold has fallen sharply in recent weeks, reaching a low of $60 per ounce on Monday. This is the lowest level since March 2020. The decline has been driven by a number of factors, including rising interest rates, a strengthening US dollar, and concerns about a global economic slowdown.
Rising interest rates make gold less attractive to investors, as they can now earn a higher return on their money by investing in bonds or other interest-bearing assets. A stronger US dollar also makes gold more expensive for investors in other currencies. And concerns about a global economic slowdown have led to a decrease in demand for gold, which is often seen as a safe haven asset.
The decline in the price of gold has been a boon for consumers, as it has led to lower prices for gold jewelry and other products. However, it has also been a disappointment for investors who had hoped to profit from the recent surge in inflation.
It is unclear how long the price of gold will continue to decline. However, it is likely that the metal will remain under pressure in the near term, as interest rates continue to rise and concerns about the global economy persist.
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