ISLAMABAD: Gold prices are under severe pressure due to the continued strength of the US dollar in the global market and according to experts, the current quarter may prove to be the worst quarter for gold in more than a decade.
According to a foreign news agency, the trend of continuous decline in gold prices in the global market has continued and prices have once again fallen below the psychological threshold of $ 4,000 per ounce, which has increased concern among global investors.
According to the foreign news agency Bloomberg, the price of spot gold fell by about 1.8 percent and fell to $ 3,943 per ounce, which is the lowest level in the last seven months. The strong performance of the US economy and expectations of an increase in interest rates have strengthened the dollar, due to which investors are preferring to invest in dollars instead of gold. Experts say that high interest rates and a strong dollar usually have a negative impact on gold prices, because in such a case, gold becomes relatively less attractive for investment.
According to analysts, US employment data and the upcoming policy signals from the US Federal Reserve in the next few days will play an important role in determining the direction of gold prices. If the dollar remains strong, further pressure is likely to come on gold prices.
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