Gold Positions For Best Week In Six

Gold is on track for its best week in six weeks, demonstrating remarkable resilience despite a rebound in the dollar, which recently soared to two-and-a-half-month highs. Notably, the central bank has aggressively raised rates by 5.25 percentage points since March 2022 in a bid to counteract inflation. However, if the central bank decides to pause or halt rate hikes, this could amplify the upward momentum for gold. Moreover, with looming concerns that the Fed’s actions could destabilize the economy and trigger stock market declines, gold stands out as a beacon of stability and an attractive investment option for those seeking refuge from market turbulence.