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Gold regains some ground as the hawkish repricing might have reached a near-term peak
Gold fell briefly below the 4,000 level on Wednesday but couldn’t extend the losses further as we started to see pullbacks in real yields and the US dollar. It looks like we have reached the peak in the hawkish repricing, and the next leg will need upside surprises in the US NFP and US CPI reports. Fed’s Williams yesterday reiterated that the current policy setting is well positioned and the US Core PCE came in line with expectations. All in all, there isn’t a strong reason to price in any more rate hikes at the moment. We’ve also been seeing a pullback in the rate hike bets as the total tightening expected ... (full story)
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Gold was set on Friday for a fourth straight weekly fall, as a resilient dollar and expectations of faster U.S. rate hikes to tame inflation kept bullion pressured near $4,000 per ounce. Spot gold fell 0.6% to $4,002.77 per ounce by 0441 GMT. U.S. gold futures for August delivery lost 0.7% to $4,017.30. For the week, bullion was on track for a loss of ...
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- Jun 26, 8:36am | 4 hr ago Posted byTechnical Analysis91
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