The gold price reached US$ 1660 last week the lowest price in 2 years. The reason for this seems to be the expectation of an increase in the Federal Reserve interest rates. This has contributed to make the US dollar stronger and has made gold more affordable with US dollars.
This occurs despite the inflationary pressure. In addition, the slowdown in the Chinese economy is another factor contributing to the decrease in the gold price.
The last time gold prices were at these levels was at the time of the start of the COVID-19 pandemic in April 2020.
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But the last two years the price of gold set a record high. Anyway, some of the reasons with its price reduction are nicely highlighted.
A guy i watch i youtube, Alessio, was saying he thinks silver is going to be a good trade. Big funds accumulating supposedly.