Gold prices dropped below $ 2,000 due to dollar stabilization
August, 19 2020
The price of gold dropped today below the level of $2,000 per ounce (to $1,987.93) amid the stabilization of the US dollar in the market. The American currency is awaiting details on the strategy of the US Federal Reserve to support the economy affected by the pandemic.
However, experts note that expectations of further weakening of the dollar may lead to the fact that in the near future gold will be able to gain a foothold above the $2,000 level and reach new record highs.
Tonight will be released the minutes of the meeting of the US Federal Reserve, which may contain hints of a shift in the forecast for monetary policy. However, no changes in interest rates are expected until the end of 2021.
Palladium lost 0.33% to $2.181.43 an ounce, while silver slipped 0.73% to $27.45 an ounce. Platinum fell 1.15% to $945.25.
