The price of gold in the world market has started to fall in the background of "tax reforms" in the US and investors' expectations that Federal Reserve System (Fed) would continue to increase discount rate.
Price of gold fell to the minimum level of last 2 months - $ 1,263/ounce.
Analytical Group of Report News Agency believes, price of gold will drop to $ 1,180/ounce. It is expected that gold will fall to $ 1,050/ounce after fluctuating between $ 1 180-$ 1 230/ounce.
“It is forecasted that Fed will increase discount rate by at least three times in 2018, which indicates that the price of gold would face pressure if there is no geopolitical tension", analysts say.
report.az