Hello dear friends! The price of gold on the market today has seen a significant recovery, reaching 1925 USD, an increase of about 6 USD compared to the same time yesterday.
Gold remains resilient despite the rising value of the US dollar. Meanwhile, the decrease in yields on 10-year Treasury bonds to their lowest level in two weeks has provided some support for gold.
According to the CME FedWatch tool, it is observed that there is a 93% chance that the Fed will maintain interest rates at its upcoming meeting. Higher interest rates in the US will increase opportunity costs for holding onto gold.
Gold remains resilient despite the rising value of the US dollar. Meanwhile, the decrease in yields on 10-year Treasury bonds to their lowest level in two weeks has provided some support for gold.
According to the CME FedWatch tool, it is observed that there is a 93% chance that the Fed will maintain interest rates at its upcoming meeting. Higher interest rates in the US will increase opportunity costs for holding onto gold.
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How do you feel the gold price today? Please leave a comment below the comment section :D
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Recent negative information about China's economic situation has put significant pressure on the gold market due to concerns about falling demand for precious metals in the country of billions of people.
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where inflation recedes without triggering a recession.
After neutral commentaries from Fed policymakers, chances that interest rates will remain unchanged at 5.25%-5.50% for the remainder of the year rose to 55% against the 53% recorded earlier.
After neutral commentaries from Fed policymakers, chances that interest rates will remain unchanged at 5.25%-5.50% for the remainder of the year rose to 55% against the 53% recorded earlier.
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Gold price lost its traction and declined toward $1,920 in the American trading hours on Friday. The benchmark 10-year US Treasury bond yield recovered toward 4.25% after spending the first half of the day in negative territory, causing XAU/USD to stretch lower.
