In this afternoon's trading according to Vietnam time, gold fell slightly after a week of gains within the regime, especially in the session after investors evaluated the interest rate decision of the State Federal Reserve. The United States (Fed) ahead of its consumer distribution report later this week. Currently, US futures prices decreased 0.2% to 1,942.30 USD.
Praveen Singh, Vice President at Sharekhan, shared that the decline in global gold holdings in Exchange Traded Funds (ETFs) shows that investment demand is still on the decline. SPDR Gold Trust, the world's largest gold ETF, reported that its gold holdings fell to their lowest level since January 2020.
Accordingly, Fed officials warned on Friday that further interest rate hikes could be expected at the end of 2023, even though they decided to keep interest rates steady at last month's policy meeting. Currently, the US dollar remains at its highest level in more than 6 months, and 10-year Treasury bond yields are also near the highest level in the past 16 years.
Consultants are now waiting for the personal consumption expenditures price index (PCE) to be published on September 29.
In other precious metals markets, spot silver prices decreased 0.3% to 23.47 USD/ounce. Platinum prices fell 0.5% to $921.35, palladium prices fell 0.2% to $1,246.22.
Praveen Singh, Vice President at Sharekhan, shared that the decline in global gold holdings in Exchange Traded Funds (ETFs) shows that investment demand is still on the decline. SPDR Gold Trust, the world's largest gold ETF, reported that its gold holdings fell to their lowest level since January 2020.
Accordingly, Fed officials warned on Friday that further interest rate hikes could be expected at the end of 2023, even though they decided to keep interest rates steady at last month's policy meeting. Currently, the US dollar remains at its highest level in more than 6 months, and 10-year Treasury bond yields are also near the highest level in the past 16 years.
Consultants are now waiting for the personal consumption expenditures price index (PCE) to be published on September 29.
In other precious metals markets, spot silver prices decreased 0.3% to 23.47 USD/ounce. Platinum prices fell 0.5% to $921.35, palladium prices fell 0.2% to $1,246.22.
TP1 : 1918
TP2 : 1924
SL : 1903