Gold Prices Face Volatility Amid Economic Shifts

Recent market fluctuations have seen gold prices experience a significant decline. The price of gold rings dropped by 5.17%, while gold bars fell by 1.69%.

Globally, spot gold decreased by 0.1% to $2,656.34 per ounce after reaching a record high. Analysts suggest that the potential inflationary policies following Trump's election may slow down economic recovery, influencing gold's value.

Despite this drop, gold's appeal as a safe-haven asset remains strong, particularly in light of trade tensions and a widening U.S. budget deficit. Predictions indicate that gold prices could soar in the future, with forecasts suggesting a potential rise to $2,900 an ounce by mid-2021, fueled by ongoing economic uncertainties.