Gold Prices

Why Gold Prices Are Dropping and What to Watch Next

I’ve been keeping an eye on gold prices lately, and wow, they’ve taken a bit of a hit! As we head into the European tradingsession, gold (XAU/USD) is sitting well below $3,300, actually touching a one-week low this Wednesday. So, what’s causing this dip? Let’s break it down in simpleterms.

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Crude Oil Prices

OPEC+ opens oil tap wider before planned August hike, raising fears of price fall

OPEC+ will raise oil production faster than earlier planned in August, with eight key alliance members agreeing to increase output by 548,000 barrels a day, delegates said on Saturday after a virtual meeting. This is higher than the 411,000-barrel hikes announced for May, June and July, which were already triple the initial plan. Traders had anticipated the same increase for August, making the latest move a further acceleration.

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Best MCX Tips Provider in India

Comex Gold Prices Drop After Three Days of Gains

Comex Gold (XAU/USD) prices took a break from their three-day rise, dropping about 1% in the latest trading session. This dip came after the U.S. released stronger-than-expected job growth numbers, which made gold less attractive to investors.

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