Gold is viewed as a safe haven for investment during periods of turmoil and tends to go up during times of crises. Gold also acts as a hedge against inflation and tends to rise when governments follow expansionary monetary policies.
Increasing interest rates tend to result in a fall in gold prices, because money flows from the bullion market to the treasuries market, resulting in lower demand for bullion. Gold's price has fallen below $1,200 an ounce, losing more than $100 in a month as the prospects of a US interest rate hike increase.
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