This morning, world gold prices decreased with spot gold dropping 10.6 USD to 1,915.2 USD/ounce. Gold futures last traded at $1,935.10 an ounce, down $10.50 from the bright spot.
In trading earlier this week, world gold prices were strongly influenced by the rise of the USD and rising bond interests. US Treasury bond yields surge to multi-year highs increasing the opportunity cost of holding non-yielding assets like gold, while the US Dollar Index hits a new 6.5-month high reduces the attractiveness of this precious metal to buyers holding other currencies.
Experts say that, in the short term, the hawkish stance of the US Federal Reserve (Fed) at the new monetary policy meeting here will continue to be a catalyst that brings benefits to bonds and the currency. USD increased, putting pressure on precious metals.
At that time, looking at the limit, the optimistic view on gold is still maintained. In its new outlook development report, Société Générale Bank of France said that it still maintains a positive view on precious metals because inflation is still high in the context of the Fed's plan to end the game cycle. story. Despite gold's summer flare-up throughout, SocGen remains optimistic that prices can return to $2,000 an ounce.
In trading earlier this week, world gold prices were strongly influenced by the rise of the USD and rising bond interests. US Treasury bond yields surge to multi-year highs increasing the opportunity cost of holding non-yielding assets like gold, while the US Dollar Index hits a new 6.5-month high reduces the attractiveness of this precious metal to buyers holding other currencies.
Experts say that, in the short term, the hawkish stance of the US Federal Reserve (Fed) at the new monetary policy meeting here will continue to be a catalyst that brings benefits to bonds and the currency. USD increased, putting pressure on precious metals.
At that time, looking at the limit, the optimistic view on gold is still maintained. In its new outlook development report, Société Générale Bank of France said that it still maintains a positive view on precious metals because inflation is still high in the context of the Fed's plan to end the game cycle. story. Despite gold's summer flare-up throughout, SocGen remains optimistic that prices can return to $2,000 an ounce.
