Gold Price Forecast: XAU/USD Recovers Lost Ground at $2,030 Level
Gold price tanked on Monday shedding nearly 25 points after the XAU/USD charts dipped 1.5% in the day’s trade. The price of GOLD fell to $2,020 and fears gripped the commodity markets of a dip below the $2,000 mark. However, GOLD recovered on Tuesday and the price is now trading above the $2,030 level. The XAU/USD charts show GOLD price hovering around $2,035 with an upsurge of nearly 0.5% in 24 hours. Also Read: Planning To Buy Gold Next Month? Here’s February 2024 Price Prediction Gold Price Forecast: Will XAU/USD Rise Further? Source: Freepik.com The commodity markets remain on a slippery slope as the US Treasury yields deliver higher returns this month in January 2024. The US Treasury yields’ returns affected both the stock and the commodity market, and gold prices in general. Institutional investors are now opting for sovereign US Treasury bonds as they offer better CAGR compared to other sectors. Also Read: BRICS: JP Morgan Issues Major Warning About U...