This week the gold price started off at 1169.90 USD/oz. A number lower than the weekly low of last week’s, but by Wednesday the gold price was able to climb above 1170 USD/oz. The gold price today is only 1159.28 USD/oz.

The Cause

With more gold bugs than ever, many believed that this would a major influence on the gold price. But as interest rates keep rising in America, the gold price continues to fall.  Many are hoping that this steady decline will be short-lived, and that the new year will allow the numbers to grow again.

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Sources: usagold.com

Image Source: telegraph.co.uk