Concerns Over Dollar Depreciation Support Gold Prices as Market Awaits Walsh's Speech
Prefer us on GoogleGold prices edged higher on Thursday due to ongoing concerns about the depreciation of the dollar and the U.S. budget deficit. OANDA analyst Kelvin Wong stated that these factors are supporting gold prices in the medium term. The market is focused on the speech of Federal Reserve Chairman Walsh to gauge the direction of monetary policy. The U.S. Treasury's expansion of long-term bond purchases has raised concerns about dollar depreciation, leading to a rise in gold prices of over 5% last week. Additionally, the Prime Minister of Qatar is set to visit Tehran to restart diplomatic mediation.
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