Gold Price, Forex Update-June 27th, 2022

In this article, we have covered the highlights of the most important news about the Gold Price range-bound market, the Russia Default, Crude oil declining, and the U.S. Dollar this week.

Gold Price Range-Bound

The gold price has been stuck in a range of US$ 1,807 – 1879 for the last five to seven weeks as rising interest rates, and inflation fears are weighing against the supposed safe-haven status of the precious metal.

The majority of global central banks are raising Gold Price rates, at a rate not seen in generations. It is to fight rapidly increasing inflation rates, and reverse the rather accommodating monetary and fiscal policy, indicating the long-term higher “Gold Prices”.
There is hardly any doubt that supply shocks have more than added to the fast Gold price hikes, with consumers running short of money fast to cope with the rising inflation.

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