GOLD - World gold prices decreased slightly in the first trading

The world gold market has witnessed strong buying force in the past 2 weeks. Investor demand for a safe haven has increased amid tensions in the Middle East. Gold prices marked the third consecutive week of increase.

According to experts, in addition to the conflict in the Middle East, investors should monitor developments in the Fed's monetary policy stance.

According to the CME FedWatch Tool, the market seems certain that the Fed will keep interest rates unchanged at 5.25% to 5.5% at this meeting. At the same time, the Fed is expected to maintain restrictive monetary policies for the foreseeable future.

Some analysts warn investors to be cautious with gold prices in the region of 2,000 USD/ounce because the market may adjust downwards based on the Fed's monetary policy stance, which could keep interest rates high in the future. this time. longer period.

Ole Hansen, commodity strategist at Saxo Bank, said the Fed's tough stance on interest rates could keep investors away from gold-backed exchange-traded products, which could cause gold prices to fall. next time. In addition, gold prices may decrease due to profit taking by investors.