Gold price today: Will gold price rise again?
Gold price today (18-8): The global gold price continues to face pressure and drops to its lowest level in 5 months, reaching $1892 per ounce.
The yield on US Treasury bonds has increased further after the US Dollar Index reached its highest level in 9 weeks overnight.
The increase in bond yields has raised the opportunity cost of holding non-interest-bearing assets like gold, while the recovery of the USD has diminished the appeal of this precious metal for buyers holding other currencies. These two headwinds have pushed gold to its lowest level in 5 months.
This has raised concerns that demand for gold will weaken in the near future, creating resistance for speculators driving up prices in the precious metals market.
The yield on US Treasury bonds has increased further after the US Dollar Index reached its highest level in 9 weeks overnight.
The increase in bond yields has raised the opportunity cost of holding non-interest-bearing assets like gold, while the recovery of the USD has diminished the appeal of this precious metal for buyers holding other currencies. These two headwinds have pushed gold to its lowest level in 5 months.
This has raised concerns that demand for gold will weaken in the near future, creating resistance for speculators driving up prices in the precious metals market.
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".
