Gold prices are now trading at their lowest since the end of December. Is it time to buy? goldpricetoday goldtrade XAUUSD forex
Gold price fell to the support level of $1819 an ounce, the lowest price in nearly two months, and rebounded with the dollar's gains halting, to the level of $1843 an ounce. Accordingly, the price of the precious metal recorded a weekly loss of about 1.2%, reducing its annual gains since the beginning of 2023 to date, to 1.25%.
. While there was some hope that the US central bank might soon hit the pause button on its quantitative easing efforts, the recent wave of inflation data has cast doubt on the inflation-lowering narrative. The US Consumer Price Index came in at a higher-than-expected 6.4% yoy and rose 0.5%, higher-than-expected on a monthly basis. The producer price index eased to 6% but rose 0.7% .
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