Attacks by Iran-backed Houthi rebels on merchant vessels in the Red Sea has raised concerns over rising oil costs and delayed shipments across the globe.
The price of gold is expected to test levels from $2,060 to $2,090 per ounce, and on any correction if $2035 holds, the prices may target $2,115 level in the current up-move, as per a report by Emkay.
In the year 2023, the financial landscape faced significant challenges, causing many to worry about a potential severe recession, especially in the United States, the world s largest economy. However, despite the odds, most major economies managed to avoid a recession amidst a global economic slowdown, except for a few in Europe.
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