Chain News by Thebittimes.Com

The weakening of the US dollar and a dip in Treasury yields made GOLD prices climb above $2,000 on Thursday. Gold prices fell below the $2,000 mark this week anticipating the CPI data and the Fed’s interest rate decision. The CPI data published on Tuesday show inflation cooling down to 3.1%. Also Read: BRICS: US & China Rivalry Risks Cold War II, Warns IMF Source: Investing However, investors remain cautious as the markets expect inflation to return to normalcy at 2% and below. Coming to the interest rate decision, the Feds have projected rate cuts at some point in 2024. The Federal Reserve kept interest rate cuts unchanged this time keeping it the same since the last three consecutive months. Weak US Dollar & Dip in Treasury Yields Make Gold Prices Jump 1.5% Source: Medium.com Gold prices came close to $2,040 on Thursday by rising 1.5% after the Feds paused the interest rate hike. The development added inverse effects on the US dollar and the Treasury yields...

Gold prices rallied hard this month by climbing double digits in the charts in the last 30 days. The precious metal spiked nearly 11% in three weeks and its price is now hovering around the $1,978 mark. The conflict in the Middle East is one of the reasons why Gold Prices are rising in November this month. Gold is seen as a safe haven and institutional investors are offloading US treasury bonds and entering the commodity markets. In this article, we will highlight a price prediction for GOLD in November 2023. Also Read: Gold To Become Expensive & Reach $3,000: Best Time To Invest? Source: investing.com Gold to Rise $2,100 or Dip to $1,900? Here’s a Price Prediction For Nov 2023 Source: Watcher Guru The price of GOLD is forecasted to lift from $1,978 levels and reach a new high of $2,100 next, according to a prediction from TD Securities economists. However, price prediction estimates that GOLD will not reach $2,100 in November 2023 but might cross the mark in Q1 of 2...