Hello dear friends! Gold price on the market today had a slight fluctuation, increasing by 8.2 USD compared to the previous session, trading at 1,924.6 USD/ounce.
Gold remains resilient despite the rising value of the US dollar. Meanwhile, 10-year Treasury yields fell to a two-week low, providing some support for gold.
According to the CME FedWatch tool, it is found that there is a 93% chance that the Fed will maintain interest rates at the upcoming meeting. Higher interest rates in the US will increase the opportunity cost of holding gold.
Gold remains resilient despite the rising value of the US dollar. Meanwhile, 10-year Treasury yields fell to a two-week low, providing some support for gold.
According to the CME FedWatch tool, it is found that there is a 93% chance that the Fed will maintain interest rates at the upcoming meeting. Higher interest rates in the US will increase the opportunity cost of holding gold.
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Gold prices today fell to $1,920 during US trading hours on Friday. The benchmark 10-year US Treasury yield recovered to 4.25% after spending the first half of the day in negative territory, causing XAU/USD to drop significantly.
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The price is listed at 1,918 USD/ounce, unchanged from earlier this morning.
