Gold going down again

 

Gold news not god at all!

Gold News - Gold price going down again

Gold news is not the best for a new week, as world wakeup on 20-7-2021 to find the price chart of gold price in world is going down, as the fears from COVID-19 and stock down is increasing day by day, also according to the situation the bank of America was taking about increasing! which the pretested that the price will still push above $2,000 during this year.

Lackluster jewelry maker is the main reason of the gold price situation

according to the market researches experts did during the past period they found a wide felling of disappointing from the market leader, as the covid-19 destroys their market because in India and china the market is totally dropped and stopped but in some countries especially gold in Arab countries which the gold is a main point for getting marriage they talked about a big declaration in the selling rate during the last 3 years, and it themes like the behavior of arabas in getting marriage is changed by Corona time.

other factors affect the gold price and gold market

• While gold is often seen as a safe haven investment and store of value, it is also a produced commodity and subject to those same economic forces.
• When gold miners produce an excess of gold relative to demand, the price will experience downward pressure due to the laws of economics.
• Speculators that accumulate or let go of gold in the market can create temporary imbalances that lead to rapid price changes.

Those factors copied for Investopedia