On Monday, amid the strengthening of the US dollar, the price of spot gold fell by almost 0.6% to $2,728 per ounce. Experts associate the growth of the US currency with the results of the elections in Japan and predict its further strengthening. The strengthening of the dollar traditionally reduces interest in gold, as it makes it less attractive to investors looking for diversification of their portfolios. At the same time, the market is closely monitoring the publication of economic data from the United States, which may become a starting point for new movements and influence the Fed's decisions. Important reports on the state of the labor market, inflation and consumer spending are scheduled for this week. They will give an idea of how the US economy is developing, and how the latest data may affect the Fed's decision to adjust interest rates. According to analysts, the probability of a 25 basis point rate cut in November remains high. Low rates may increase the attractiveness of gold, but for now the market is waiting for new signals. The uncertainty surrounding the upcoming US elections is also having some impact on the gold market. Gold is traditionally considered as a protective asset in conditions of political and economic instability.
QUICK LINKS
Contact Us 
