Interest rate decisions and emergency measures announced by the Federal Reserve and the European Central Bank have put significant downward pressure on the gold price. In addition to these two heavy hitters, the central banks of Australia and England are expected to announce low interest rates, whilst working on major stimulus packages to fast-track the recovery of economic activity. Based on these factors, there is an increased chance that the gold price will undergo a correction, with price forecasts for the precious yellow metal plunging accordingly.
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