The global gold market witnessed an unexpected dive last Thursday, leading many to question what triggered this sudden drop. The reasons behind this precarious slope are multi-faceted. Numerous economic indicators intertwined, instigating this drastic fall. From the surge in cryptocurrency market to the US dollar’s unexpected climb, as well as the release of government economic data creating a wave in the financial sector. Moreover, speculations on central banks worldwide raising interest rates added fuel to the fire. Such factors led to shifts of investments thus knocking gold off its high pedestal. Contrary to popular belief, gold’s drop is not an ominous sign for gold investors. Experts see it as a valuable opportunity to buy the gold at a relatively lower price. This volatility is just another proof that the gold market remains healthy and active. Read More
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