World Gold Council: Recent gold price recovery likely short-lived
According to the World Gold Council, the recent recovery in gold prices might not last, as a robust dollar and rising US Treasury yields could put pressure on the metal. The organization noted that investors purchasing during the price dip kept gold above $4,000/oz, with the upcoming technical support levels identified between $3,857 and $3,887/oz. It further cautioned that if the US Federal Reserve adopts a more aggressive stance or if US inflation figures exceed expectations, gold prices could face renewed declines.
by shortkt.com✓