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Investors waiting for the federal meeting
The US Federal Reserve is expected to raise interest rates to curb inflation. Due to this, there is an expectation that there may be pressure on the price of gold. Investors’ vision, meanwhile, seems to be on top of this crowd. Thus without large investments, the price of gold is seen under pressure.
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Bond market
The US bond market has begun to rebound. This has led to a reduction in investments in gold, which is an interest-free investment. However, international experts predict that if the price of gold breaks $ 1870, it could touch $ 1890, while it is expected to touch $ 1839.
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The dollar is rising
The value of the dollar, which has weakened over the past few sessions, is now beginning to rise sharply. At present, the dollar is up 0.52% at $ 102,300. This has further put pressure on the price of gold. Meanwhile, investors are looking forward to the Federal Reserve meeting.
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Stock markets are booming
The stock market has been on a downward trend for the past few weeks and is now on the rise again. Investors have begun to make investments amid fears of inflation and recession. This is also expected to put pressure on gold prices.