The trigger for the gold weakness are the higher interest rate expectations in the USA.
(Photo: dpa)
Dusseldorf The price of gold is in a downtrend. On Friday, however, the precious metal will at least regain some breathing space: most recently, the price per troy ounce was around $1,705. On Thursday, the rate had fallen to $1,688, its lowest level in six weeks.
This means gold is heading for its third consecutive week of losses. The trigger for the gold weakness are the higher interest rate expectations in the USA. This makes interest-bearing investments such as bonds more attractive than gold, which pays neither interest nor dividends. In addition, the strong dollar, in which gold is traded, makes investments more expensive for investors from other currency areas.
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