Jakarta, CNBC Indonesia – World gold prices fell slightly in trading this morning. Going forward, the price of gold will be determined by the dynamics of the United States (US) dollar exchange rate.
On Monday (11/10/2021) at 07:03 WIB, the world gold price on the market spot recorded at US $ 1,753.76/troy ounce. Down 0.17% compared to last week’s position.
The fate of gold prices is largely determined by the US dollar exchange rate. These two assets have an inverse relationship, when the US dollar is sluggish, the price of gold will rise.
This is because gold is an asset that is priced in US dollars. When the US dollar weakens, gold becomes cheaper for investors holding other currencies. The demand for gold rises, the price rises.
Similarly, if the US dollar strengthens. The price of gold becomes more expensive for investors who have other currencies so that the demand for the precious metal will fall and the price will follow.
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