Gold continues to fall compared to the previous session

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The world gold price extended 7 consecutive sessions of decline from last week to now because major economies such as the US, Japan, and China all showed positive signs of recovery, with GDP increases in the second quarter of 2023. the above countries are 2.4%, 6% and 6.3% respectively over the same period last year. All of the above GDP growth rates were higher than previously reported.

Experts said that the loosening monetary policy of the central bank will help the economy recover better, when consumers can easily access loans for shopping. Financial investors will gradually shift capital from capital-preserving assets such as gold to investing in production and business lines or other profitable assets. This has caused gold to lose its position in the market.

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🔹JP_Morgan shares lose $11 billion in one day, and General Motors shares fall to their lowest level in two months.

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Last night, gold prices penetrated the key support level of $1,900. Precious metals are fluctuating at the lowest prices in more than 5 months.

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Bank of America's Hartnett described this week's China data as "shocking" and warned of a credit event that could crash markets and necessitate a coordinated response.