On Monday, gold fell by $30 and fell below the critical level of $2,000 per ounce. Analysts said there was enough interest in buying to drive prices up.

June Comex gold futures were last trading at $1,989.10, down 1.49% on the day. According to Bart Melek, global head of commodity strategy at Securities TD Securities, the long-term bullish outlook for gold is still intact. And as soon as the markets settle in when the Fed takes a break, gold will recover. For him, “right now, there is a risk that the Fed is doing too much. When the economy slows, it will be quick. For gold, it is important that a pivot occur, and there is a significant risk that the US central bank will not strictly adhere to 2% inflation.”