Gold’s golden days appear to be diminishing. From a peak of $3,500 per ounce in April, prices have plummeted to $3,201, leading to speculation about the future trajectory of the metal.
Experts believe that the increase in investor confidence is the cause of the decline, as the demand for gold as a secure investment option decreases.
In Dubai, the shift is equally noticeable, with gold prices down by Dh34 per gram since April.
The burning question now is: could the price of gold fall below $3,000 per ounce in the near future? Experts are closely monitoring the situation, and the solution may be closer than anticipated.