As of 11:34 AM PST on June 3, 2023, the price of gold is $1,850 per ounce. This is a decrease of $10 from the previous day. The price of gold has been on a downward trend in recent months, due to a number of factors, including rising interest rates and a stronger US dollar. However, gold is still considered to be a safe haven asset, and its price is likely to remain relatively stable in the long term.
Here are some of the factors that have been affecting the price of gold in recent months:
- Rising interest rates: The US Federal Reserve has been raising interest rates in an effort to combat inflation. This has made gold less attractive to investors, as it does not pay any interest.
- Stronger US dollar: The US dollar has been strengthening in recent months, making gold more expensive for buyers who hold other currencies.
- Geopolitical uncertainty: The ongoing conflict in Ukraine has created uncertainty in the global markets, which has led some investors to buy gold as a safe haven asset.
Despite the recent decline in the price of gold, it is still considered to be a valuable asset. Gold is a hedge against inflation, and it can also be used as a store of value. If you are considering investing in gold, it is important to do your research and understand the risks involved.