| Gold rallied from the July lows of $1077 to test the $1167 level. Gold is believed to be a safe haven where investors put their money during periods of economic uncertainty. During the last economic recession, gold price rallied to over $1920. Unfortunately, this level has been the highest price since 2011.
The introduction of Quantitative Easing by the FED in order to stimulate the economy has eventually put gold in a bear market. The market is anticipating a rate hike from the FED as early as September. This is bad news for gold bulls because it will have a negative impact on the price of gold. This means that gold prices are more likely to go lower than we saw in July...............................................Full Article: Source
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