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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
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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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