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.