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XAUUSD- The hunt for $1800



The price of Gold It remains below its key level $1800 It is performing well today, but it is still better than the metals markets and currently stands at $1783. Optimism that China’s economy will reopen and growing worries about a global downturn. Safe-havens were prompted Market participants will begin to withdraw from the yellow metal. China stated this week that it will continue to loosen its COVID restrictions, raising hopes for a rapid economic recovery, despite an increase in daily infections.

Gold prices rose by $ on Wednesday14.96 (+0.84%). To $1,785.75After increasing warnings that rising inflation and persistent interest rates would cause a US recession in 2023, the United States government decided to act. Additionally, Inverted US yield curveThis is a sign of a coming recession for many market participants. (see below)

It is important to note that Gold has lost its safe-haven status to Dollar significantly over the past year. However, speculations that the Greenback may have peaked have led to capital flows to the yellow metal.

Tomorrow will be a busy day. US Inflation Figures for November These measures measure the evolution in price pressure, despite a fall in October (6.7%)…

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