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Gold Price Records Its First Weekly Loss Since June

Global IndexesAug 15, 2020
Gold Price Records Its First Weekly Loss Since June
Gold prices have shaken many investors this week as the precious metal fell from its record high of $2,075 to $1,863 per ounce. The sell-off in the gold price has made many investors reconsider their stance towards gold. Gold and precious metals are extremely cyclical. As per FX EMPIRE analysis, roughly every 6-months prices form an intermediate cycle low – the last low arrived in March. The current decline is just starting and may last 4 to 6-weeks. The US bond yields also jumped parallel to falling the Gold this week.

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