Gold’s value plunges
Gold experienced a value dip that brought it down by 0.07%, having it trade at $1,822. In addition to this, a higher Producer Price Index was also recorded.
Commodity experts have put effort into pinpointing what the possible reason for Gold’s value plunge is and have concluded that the rising inflation rate contributed to it.
Many investors have allegedly expressed their concerns about the inflation causing the U.S Federal Reserve to increase interest rates.
Not minding the plunge, commodity investors have advised investors to stay on the sidelines and observe because Gold’s value will gain momentum again.