XAUUSD - USD continues to increase, gold down
This morning, world gold prices continued to decline with spot gold down 14.9 USD to 1,900.9 USD/ounce. Gold futures last traded at $1,919.80 an ounce, down $16.80 from the bright spot.
The gold market is trading at its closest in five weeks as the dollar and 10-year bond yields try to stay high. Although gold prices have continuously decreased, expert Joy Yang of MarketVector Indexes still believes that gold is still well supported thanks to its role as an essential safe foreign asset.
In a recent interview with Kitco, Yang said that, although gold has performed lackluster recently, she does not see any significant changes in gold compared to the beginning of the year.
Although a strong and resilient economy is forcing the Federal Reserve to maintain monetary policy “higher for longer,” Yang said that uncertainty remains elevated and will create safe haven assets like well-backed gold.
The gold market is trading at its closest in five weeks as the dollar and 10-year bond yields try to stay high. Although gold prices have continuously decreased, expert Joy Yang of MarketVector Indexes still believes that gold is still well supported thanks to its role as an essential safe foreign asset.
In a recent interview with Kitco, Yang said that, although gold has performed lackluster recently, she does not see any significant changes in gold compared to the beginning of the year.
Although a strong and resilient economy is forcing the Federal Reserve to maintain monetary policy “higher for longer,” Yang said that uncertainty remains elevated and will create safe haven assets like well-backed gold.
TP : 1910
TP : 1920
SL : 1890