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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats As Traders Bet On Fed Rate Hikes
Gold is moving lower as traders remain worried about hawkish Fed despite recent CPI and PPI reports. FedWatch Tool indicates that there is a 48.5% probability that Fed will raise the federal funds rate at the meeting in September. Interestingly, the market believes that there is a 5.9% chance of two rate hikes by September. These expectations put pressure on gold markets. Treasury yields are moving higher, putting additional pressure on the price of gold. The yield of 2-year Treasuries settled above 4.16%, while the yield of 10-year Treasuries climbed above the 4.57% level. Rising Treasury yields are bearish for gold ... (full story)
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Gold futures saw a daily close below 4,000 for the first time since October on Thursday. And it didn’t take much of a rise in the US dollar for gold bears to enjoy their breakout. The US dollar index rose just 0.17%, recouping less than a third of the losses accumulated over the previous two days. I had already noted that gold appeared vulnerable to a break ...
From atfx.com | 19 hr ago
Gold fell below $4,000 an ounce on Thursday and extended its decline to around $3,975 in early Asian trading on Friday, as escalating Middle East tensions lifted energy prices, Treasury yields and expectations for another US interest-rate increase. The decline outweighed traditional safe-haven demand for the precious metal. Spot gold (XAU/USD) dropped 1.9% ...
From brecorder.com | 31 hr ago
Gold fell 2% on Thursday, as escalating Middle East tensions pushed oil prices and U.S. Treasury yields higher, heightening inflation concerns and reinforcing expectations of elevated U.S. interest rates. Spot gold was down 1.5% at $4,001.17 per ounce by 0926 a.m. EDT (1326) GMT, after falling as much as 2% earlier. U.S. gold futures dropped 1.1% to ...
