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XAU/USD: Dollar is rising in price, gold becomes cheaper

XAU/USD: Dollar Is Rising In Price, Gold Becomes Cheaper

Since the opening of today's trading day, the price of Gold has resumed its decline amid the strengthening of the Dollar. Spot gold prices in London fell by 0.2% to 1309.40 dollars per ounce. Since last month, gold prices have fallen by 0.2%.

At the same time, the dollar continues to strengthen. After reaching the current year's low in February, the WSJ dollar index, reflecting the value of the dollar against a basket of 16 currencies, rose by more than 4%.

It is known that at the meeting which came to the end on Wednesday, the Fed confirmed intention to adhere to the plan for gradual tightening of monetary policy. The PCE personal consumption expenditure price index (the Fed's preferred inflation indicator) showed an annual growth of 2% in March. Tax cuts and increased government spending this year will help to strengthen domestic demand. The imposition of import duties would increase the cost of imports, which could also put pressure on inflation. Now many people are interested in

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XAU/USD: Dollar is rising in price, gold becomes cheaper


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