Volatility in the markets cannot hide the fact that the pace of economic development is slowing down. In such conditions, gold serves as a safe haven for capital. So, the Fed decided to raise its key interest rate by 0.75% at the very time when all econom

Federal Reserve Chairman Jerome Powell said last week that the US economy is not in a recession. Biden administration officials seem to agree, including National Economic Council Director Brian Dees and Treasury Secretary Janet Yellen.

Although aggregate demand for gold fell 8% year on year to 948 tons, some sources of demand saw decent growth. In addition, demand for the first six months of the current 2022 was 12% higher year-on-year, reaching 2,189 tons.

The global price of gold, denominated in US dollars, has already lost more than 5% of its value since the beginning of 2022 to date, while the dollar index, which compares the dollar to six other major currencies, has gained 11% over the same time period.