Gold - shows signs of reversing its direction
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Hello everyone! Today, let's delve into the topic of Gold with Darius...
The price of gold on the global market has experienced a slight decline, dropping by 5.3 USD to reach 1,823.1 USD per ounce. This decrease can be attributed to two main factors: the strength of the US dollar and an increase in US Treasury bond yields, which have reached their highest level in 16 years. Consequently, gold prices have fallen to their lowest point in a span of ten months during this morning's early trading session (Vietnam time).
Market analysts are currently predicting a 45% chance that there will be another rate hike of 25 basis points before the year ends. However, they also estimate that there is a 42% likelihood that the Federal Reserve will implement measures to ease monetary policy within the first six months of 2024.
On another note, it is worth mentioning that supply imbalances continue to impact global economic conditions and contribute to an ongoing increase in inflation rates. Given this prevailing environment, it becomes increasingly challenging for the Federal Reserve to effectively bring inflation back down to its targeted rate of 2%. As a result, gold remains an attractive investment option for many individuals seeking stability and security amidst these uncertain times.
The price of gold on the global market has experienced a slight decline, dropping by 5.3 USD to reach 1,823.1 USD per ounce. This decrease can be attributed to two main factors: the strength of the US dollar and an increase in US Treasury bond yields, which have reached their highest level in 16 years. Consequently, gold prices have fallen to their lowest point in a span of ten months during this morning's early trading session (Vietnam time).
Market analysts are currently predicting a 45% chance that there will be another rate hike of 25 basis points before the year ends. However, they also estimate that there is a 42% likelihood that the Federal Reserve will implement measures to ease monetary policy within the first six months of 2024.
On another note, it is worth mentioning that supply imbalances continue to impact global economic conditions and contribute to an ongoing increase in inflation rates. Given this prevailing environment, it becomes increasingly challenging for the Federal Reserve to effectively bring inflation back down to its targeted rate of 2%. As a result, gold remains an attractive investment option for many individuals seeking stability and security amidst these uncertain times.
Note
what do you think ?Note
Market participants seem convinced that the Fed will continue to tighten its monetary policy.Note
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