XAUUSD -The move shows that gold is showing signs of increasing
World gold prices continued to decline slightly with spot gold down 5.3 USD to 1,823.1 USD/ounce. Gold futures last traded at 1,839.5 USD/ounce, down 5.1 USD compared to yesterday morning.
A strong USD and US Treasury bond yields rising to their highest level in 16 years pushed gold futures prices to a 10-month low in early morning trading this morning (Vietnam time). Bearish speculators are taking a chance on the scenario that the US Federal Reserve (Fed) presented at its recent monetary policy meeting. Fed officials' view is that interest rates must be kept high "for some time" to bring inflation back to the 2% target. In the market, there are still mixed views on the interest rate scenario in the near future. According to the CME FedWatch tool, markets predict a 45% chance of another 25 basis point rate hike this year, but also a 42% chance of the Fed easing monetary policy in the first half of the year. 2024.
World gold prices continued to decline slightly with spot gold down 5.3 USD to 1,823.1 USD/ounce. Gold futures last traded at 1,839.5 USD/ounce, down 5.1 USD compared to yesterday morning.
A strong USD and US Treasury bond yields rising to their highest level in 16 years pushed gold futures prices to a 10-month low in early morning trading this morning (Vietnam time). Bearish speculators are taking a chance on the scenario that the US Federal Reserve (Fed) presented at its recent monetary policy meeting. Fed officials' view is that interest rates must be kept high "for some time" to bring inflation back to the 2% target. In the market, there are still mixed views on the interest rate scenario in the near future. According to the CME FedWatch tool, markets predict a 45% chance of another 25 basis point rate hike this year, but also a 42% chance of the Fed easing monetary policy in the first half of the year. 2024.
He said that the supply imbalance has an impact on the global economy and causes inflation to continuously increase. In this environment, it is difficult for the Fed to bring inflation back to its 2% target and gold remains an attractive asset.
According to this expert, central banks will continue to buy gold to diversify their holdings and protect their purchasing power as the world continues to witness persistently higher inflation.
Minter does not expect the USD to lose its status as a global reserve currency anytime soon; Yet it is understandable that countries are diversifying, especially as the decades-long trend of globalization continues to fade.
A strong USD and US Treasury bond yields rising to their highest level in 16 years pushed gold futures prices to a 10-month low in early morning trading this morning (Vietnam time). Bearish speculators are taking a chance on the scenario that the US Federal Reserve (Fed) presented at its recent monetary policy meeting. Fed officials' view is that interest rates must be kept high "for some time" to bring inflation back to the 2% target. In the market, there are still mixed views on the interest rate scenario in the near future. According to the CME FedWatch tool, markets predict a 45% chance of another 25 basis point rate hike this year, but also a 42% chance of the Fed easing monetary policy in the first half of the year. 2024.
World gold prices continued to decline slightly with spot gold down 5.3 USD to 1,823.1 USD/ounce. Gold futures last traded at 1,839.5 USD/ounce, down 5.1 USD compared to yesterday morning.
A strong USD and US Treasury bond yields rising to their highest level in 16 years pushed gold futures prices to a 10-month low in early morning trading this morning (Vietnam time). Bearish speculators are taking a chance on the scenario that the US Federal Reserve (Fed) presented at its recent monetary policy meeting. Fed officials' view is that interest rates must be kept high "for some time" to bring inflation back to the 2% target. In the market, there are still mixed views on the interest rate scenario in the near future. According to the CME FedWatch tool, markets predict a 45% chance of another 25 basis point rate hike this year, but also a 42% chance of the Fed easing monetary policy in the first half of the year. 2024.
He said that the supply imbalance has an impact on the global economy and causes inflation to continuously increase. In this environment, it is difficult for the Fed to bring inflation back to its 2% target and gold remains an attractive asset.
According to this expert, central banks will continue to buy gold to diversify their holdings and protect their purchasing power as the world continues to witness persistently higher inflation.
Minter does not expect the USD to lose its status as a global reserve currency anytime soon; Yet it is understandable that countries are diversifying, especially as the decades-long trend of globalization continues to fade.
