The XAUUSD gold price started the day at 5:00 am and is currently trading at $1,905 per ounce.
Due to expectations of longer-lasting higher interest rates and Federal Reserve Chairman Jerome Powell's consistent hawkish stance on rate hikes, gold prices have dropped to a nearly four-month low.
Despite the aggressive tightening of monetary policies in many countries globally, inflation remains a significant concern.
Unfortunately, the gold market is not performing well, and there is a possibility of prices dropping below $1,890 per ounce in the near future.
Due to expectations of longer-lasting higher interest rates and Federal Reserve Chairman Jerome Powell's consistent hawkish stance on rate hikes, gold prices have dropped to a nearly four-month low.
Despite the aggressive tightening of monetary policies in many countries globally, inflation remains a significant concern.
Unfortunately, the gold market is not performing well, and there is a possibility of prices dropping below $1,890 per ounce in the near future.
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