Here is why Gold Price Dropped below $1,700-Biden is to blame
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3… 2… 1… Let the Gold Corrective Rally Begin :: The Market Oracle ::
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Gold Approaches $1,700 on Rising Economic ConfidenceGold remains in a bearish trend as economic confidence has improved, however, inflation can change all that around.
Mar 04, 2021 03:56 PM GMT
The chart presenting gold prices in 2021 doesn’t look too encouraging. The yellow metal continued its bearish trend at the turn of February and March. So, as one can see, the price of gold has declined from $1,943 on January 4 to $1,711 on Wednesday (Mar. 3) This means a drop of 232 bucks, or 12 percent since the beginning of the year.
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What is happening in the gold market? I would like to blame the jittering bond market and increasing bond yields , but the uncomfortable truth is that the yellow metal has slid in the past few days