The price of gold fell to its lowest level in the past three-week period, following last week’s surge to a record high.
Today’s decline sees the commodity fall for a second straight day, and comes ahead of tomorrow’s U.S. inflation report.
In addition to the consumer price index (CPI), the Federal Reserve will be holding its monthly meeting, where it is expected to keep rates unchanged.
Many believe that the hiking cycle could be over, with policy easing starting towards the end of Q1 2024.
XAUUSD bottomed out at $1,980 on Monday.
Trading any financial instrument on margin involves considerable risk. Therefore, before deciding to participate in margin trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney or accountant as to the appropriateness of an investment in margin trading is recommended. This electronic mail message is intended only for the person or entity named in the addressee field. This message contains information that is privileged and confidential. If you are not the addressee thereof or the person responsible for its delivery, please notify us immediately by telephone and permanently delete all copies of this message. Any dissemination or copying of this message by anyone other than the addressee is strictly prohibited.