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Back Fundamental analysis
Gold Below $4,000 and Heading for a Second Monthly Drop
Gold is trading again below $4,000
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Gold is trading again below $4,000 per ounce and is set for a second consecutive monthly decline. Spot gold fell about 0.6% to $3,982 after losing nearly twice that yesterday. For October, the metal is down almost 4%. Silver dropped 1.3% today to $51.47, and platinum and palladium also fell.The reason is rising inflationary pressure while the Federal Reserve has not closed the door on rate hikes. On Wednesday, the central bank held rates but left the possibility of further
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Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2026
EUR
Summary
Neutral
Urgency
1 day
Analytic
Maxim Magdalinin
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