Analyst: A stronger dollar may continue to weigh on gold prices
Svmuu News: Phillip Nova analyst Priyanka Sachdeva stated in a report that the strengthening U.S. dollar may continue to put pressure on gold prices. Despite the escalating conflict in the Middle East, the unexpected sharp rise in the dollar may prompt some investors to take profits on their gold holdings.As energy prices rise, inflation concerns are reigniting, while market expectations for fewer interest rate cuts by the U.S. Federal Reserve (Federal Reserve) this year are also growing. She added that investors should consider factors such as the dollar’s trajectory, the pace of central bank gold purchases, and whether the conflict in Iran escalates further when allocating their gold holdings. (Jin Shi)
Source:Odaily · Source Link
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