Gold is preparing to record its largest monthly loss in a long time, due to increasing pressure from the rise of the US dollar and rising bond yields, which has weakened the appeal of the yellow metal as a safe haven for investors.
This decline comes in light of expectations that interest rates will remain high for a longer period than expected, which has motivated investment funds and individual investors to reduce their holdings of the precious metal, preferring assets that generate higher returns.
Financial data show a noticeable decline in spot gold prices during this month’s trading, affected by the strong economic data issued by the United States, which strengthened the strength of the American currency.
Analysts and global markets are closely monitoring the upcoming technical support levels, in anticipation of the decisions of major central banks and developments in the geopolitical landscape, which may redraw the path of prices in the next quarter.
