Gold prices have plummeted in global markets since the start of the Russia-Ukraine crisis. But right now gold prices are trading on the Uturn. Prices are gradually falling. Not only the Russia-Ukraine crisis, but other factors are also affecting gold prices this time around. Prices are falling on the back of rising interest rates by central banks, rising inflation and declining demand for gold jewelery.
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India and China are the key markets for gold purchases. Demand for this specialty has grown significantly as a result of recent corporate scandals in China. The shops were closed. Declining demand in key markets is pushing down gold prices. Also, the interest rates to be raised by the central banks are pushing investors away from gold. With interest rates currently rising .. Investors are switching from gold to bonds. When the interest rate hike was announced .. US bond yields plummeted. Gold prices fell. Gold is currently trading at $ 1,897.60 an ounce below the psychological mark of $ 1,900 in the global market.
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