Gold slides in the last week by 3%
The price of gold has lost some of its appeal Dr. Renisha Chainani, Head- Research, Augmont - Gold for all said in the weekly Blog that, Gold loses lustre on optimism over US trade deals! The price of gold has lost some of its appeal , dropping 3% last week [June 23-28] as investors' optimism about the state of the world economy grows. Investors applauded the news of the US trade agreement with China, as well as those with the EU, South Korea, and Vietnam. The move away from safe havens coincides with a period of de-escalating global tensions on all fronts: war worries are subsiding; tariffs have reached a standstill and are still in the grace period before being considered once more. Iran has demonstrated flexibility and a preference for diplomacy in geopolitics, as seen by its UN representative's statement that Tehran is amenable to establishing a regional nuclear consortium should an agreement be reached with Washington. The likelihood that the Israel-...