Gold is dropping again, falling below $2,400 because the U.S. dollar is getting stronger. Last Friday, April 19, gold went up by 0.66%. It went past the $2,400 mark, which it had been sticking around for a while. Just the Friday before that, gold hit a new high of $2,448.80, but then it went back down. This happened because there were worries about what’s happening in the Middle East and because the U.S. dollar was doing well. On Friday, gold went up to $2,433.30, but then it went back down because the stock market was also going down.
Back on February 14, gold was at its lowest since mid-December. This happened after it went below the lowest points it had reached in January when consumer inflation news came out. Since then, gold has gone up by more than $400.
This morning, gold is going back down after going up on Friday. It’s going below the recent lows, which we can see on the daily chart that shows today’s trading activity.
Gold’s price has dropped by 2.1%, and now it’s around $2,360. What about the other precious metals? Silver has fallen by 4.3%, platinum is down by 1.2%, and palladium is lower by 1.9%. So, all the main precious metals are much cheaper this morning.
