XAU after information about USD exchange rate

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Last night, the US announced that the consumer price index (CPI) increased by 3.7% year-on-year, higher than the forecast of 3.6%. However, the annual core CPI excluding food and energy prices decreased from 4.3% to 4.1%, meeting market expectations.

At the same time, the US also announced the number of initial unemployment benefit applications of 209,000 applications, better than the forecast of 210,000 applications.

Analysts say that inflation in the US is decreasing and the job market is improving, which will push the US Federal Reserve (FED) to increase interest rates in November 2023 and maintain high interest rates for a long time. than.

The value of the USD has skyrocketed after the above information. US bond interest rates for the 10-year term jumped to 4.65%, for the 2-year term to 5.07%.

Under pressure from the USD and US bonds, speculators are probably worried that gold prices will plummet after reaching 1,885 USD/ounce. So they took the opportunity to sell it and make a profit. As a result, today's world gold price decreased by 15 USD to 1,870 USD/ounce at 6:00 a.m. on October 13.
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