Gold PRICE FORECAST TODAY and Analysis April 2024

Gold PRICE is one of the most traded precious metals in the world. Gold PRICE is traded on the commodity exchange, and the price of Gold PRICE is determined based on the supply and demand of the price of an ounce or ounce of Gold PRICE against the US dollar. This page contains information about gold prices, analysts ’opinions on the analysis of Gold PRICE against the US dollar, forecasts of gold prices and analysts’ view of the direction of the price of Gold PRICE.

Gold PRICE FORECAST TODAY

Gold prices continue to move in the downside despite attempts during the day to achieve some small gains that allow gold prices to recoup part of their successive losses after they fell below levels of $ 1,720 an ounce.

Reasons for the decline in gold price

Gold PRICE FORECAST

Since the US dollar is the currency of gold pricing, the rise of the US dollar index to the highest levels of 91 reflected negatively on gold prices, and pushed them to decline strongly to their lowest levels since June 2024, until gold prices reached during the last hour levels of $ 1,710 an ounce.

The other reason that weighed down on gold price movements during the day is the return of US bond yields to the rise again after the 10-year bond yields rose by 6.9 points to 1.48%, and again close to their highest levels in nearly a year.

Gold PRICE TODAY and Analysis April 2024

Also, the statements of US President Joe Biden about the improvement of the health situation in the United States had a positive impact on the risk appetite in the markets, which boosted the rise of the US dollar at the expense of gold, which represents a safe haven for investors in the event of market fluctuations.

More pressure awaits Gold PRICE

Gold PRICE Analysis

It is expected that the state of optimism in various countries of Europe, the United States and China about the economic recovery this year will lead to an increase in pressure on gold prices in the medium and long term, especially after Britain and Germany announced gradually easing the closure restrictions.