The world gold price was radiant today, August 18, the radiant world gold now continued to decline with spot gold down 2.5 USD to 1,888.9 USD/ounce. December gold futures last traded at $1,919.1 an ounce, down $9.2 from the previous morning.
World gold continued to trade at the lowest level within 5 months as bond yields continued to increase after the minutes of the July monetary policy meeting of the US Federal Reserve (Fed) were established. The minutes of the meeting reminded traders and investors that the Fed remained committed to its efforts to reduce usage. The market for minutes reviews is hawkish. US Treasury yields rose further after the minutes were released, while the US Dollar Index hit a nine-week high overnight. Rising bond yields have increased the opportunity cost of holding non-yielding assets like gold, while a rally in the dollar has regained the precious metal's appeal to buyers of the currencies. other currency. Two headwinds pushed gold to a five-month low.
In another development, the Central Bank of China recently unexpectedly lowered the closing interest rate, with the sharpest decrease since 2020, to revive the economy that is at risk due to all-round siege, from the market. The real estate market was engulfed in a crisis that allowed consumption to wane.
World gold continued to trade at the lowest level within 5 months as bond yields continued to increase after the minutes of the July monetary policy meeting of the US Federal Reserve (Fed) were established. The minutes of the meeting reminded traders and investors that the Fed remained committed to its efforts to reduce usage. The market for minutes reviews is hawkish. US Treasury yields rose further after the minutes were released, while the US Dollar Index hit a nine-week high overnight. Rising bond yields have increased the opportunity cost of holding non-yielding assets like gold, while a rally in the dollar has regained the precious metal's appeal to buyers of the currencies. other currency. Two headwinds pushed gold to a five-month low.
In another development, the Central Bank of China recently unexpectedly lowered the closing interest rate, with the sharpest decrease since 2020, to revive the economy that is at risk due to all-round siege, from the market. The real estate market was engulfed in a crisis that allowed consumption to wane.
✅ TP1: 1895
✅ TP2: 1890
🛑 SL: 1908