Gold price (XAU/USD) holds positive near $2,515 an ounce during the early Asian session on Monday amid the weaker US Dollar (USD) and dovish comments from the Federal Reserve (Fed).
Gold price gains momentum around $2,515 in Monday’s early Asian session. Fed’s Powell said the time has come for the US Fed to begin lowering interest rates. The escalating tensions in the Middle East might further boost safe-haven assets like Gold . Gold price holds positive near $2,515 an ounce during the early Asian session on Monday amid the weaker US Dollar and dovish comments from the Federal Reserve .
Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders.
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