Gold prices fell for the second day in a row, today, Wednesday, in conjunction with the rise in the dollar and US bond yields as a result of the market’s assessment of the Fed’s next move to raise interest rates by 25 points instead of fixing them at current levels.
The Fed is also expected to maintain its need for a tighter monetary policy, as inflation remains a concern, and yesterday's data did not change that assumption.
With the beginning of the week's trading, gold witnessed huge increases in light of the American banking crisis, given that the yellow metal rebounds in times of crisis, as it closed the day before yesterday with an increase of 2.6%, but it returned to decline yesterday and today due to the somewhat calming of crisis fears.
Markets are awaiting important US data today, as the US Producer Price Index will be released today, along with Core Retail Sales.
