World gold price increased again, downtrend is still "popular"
Gold prices worldwide face serious selling pressure amid a stronger dollar and higher Treasury yields. The rationale behind the strength of the greenback and bond yields is increasing inflation risks. Yields on 10-year US Treasuries surged to nearly 4.30% as the Fed remained cautious as inflation looked persistent.
The dollar is benefiting as China's economic outlook remains bleak. Rising unemployment, a slowing housing sector and overall weak demand point to deflationary risks in the Chinese economy, which increases the dollar's appeal as a safe-haven.
While the FOMC minutes help the dollar and yields rise further to put pressure on gold, there are temporary signs of price stability, said Matt Simpson, senior analyst at City Index. spot gold today.
The dollar is benefiting as China's economic outlook remains bleak. Rising unemployment, a slowing housing sector and overall weak demand point to deflationary risks in the Chinese economy, which increases the dollar's appeal as a safe-haven.
While the FOMC minutes help the dollar and yields rise further to put pressure on gold, there are temporary signs of price stability, said Matt Simpson, senior analyst at City Index. spot gold today.
Comment:
Fed policymakers have agreed that uncertainty remains high and that future interest rate decisions will depend on "total" data coming in the "coming months".
Comment:
Fed policymakers have agreed that uncertainty remains high and that future interest rate decisions will depend on "total" data coming in the "coming months".
