XAU the world plummeted without stopping
XAU the world plummeted without stopping
Gold prices continued to fall without stopping, reaching a low of 2,370 USD/ounce at the beginning of the Asian session on Thursday morning. Thereby, world gold recorded a decrease of nearly 5% from the peak of 2,483 USD, or about 113 USD/ounce in just 7 trading sessions.
Last night, the fluctuations after the release of the preliminary PMI report were not too significant. Besides, before the opening of the 5-year US government bond auction, gold prices increased slightly as yields decreased. But soon after, the 10-year government bond yield increased 2 bps to 4,274%, putting pressure on gold prices. Although the USD weakened slightly, the impact was insignificant.
CME's FedWatch tool shows a 100% probability of a 25 bps rate cut in September; while market forecasts suggest the Fed could cut interest rates by a total of 53 bps in 2024
Gold prices continued to fall without stopping, reaching a low of 2,370 USD/ounce at the beginning of the Asian session on Thursday morning. Thereby, world gold recorded a decrease of nearly 5% from the peak of 2,483 USD, or about 113 USD/ounce in just 7 trading sessions.
Last night, the fluctuations after the release of the preliminary PMI report were not too significant. Besides, before the opening of the 5-year US government bond auction, gold prices increased slightly as yields decreased. But soon after, the 10-year government bond yield increased 2 bps to 4,274%, putting pressure on gold prices. Although the USD weakened slightly, the impact was insignificant.
CME's FedWatch tool shows a 100% probability of a 25 bps rate cut in September; while market forecasts suggest the Fed could cut interest rates by a total of 53 bps in 2024
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.