XAU currency trend as USD rises
Gold prices experienced a very volatile trading session, falling near a 6-month low at the close of trading this morning Vietnam time as investors bet on higher interest rates. for a long time in the United States, causing gold bullion prices to lose their appeal. Currently, US gold futures prices have also decreased by 0.7% to 1,878.60 USD.
Higher interest rates have reduced the appeal of gold as an inflation hedge and could push gold prices below $1,800, said Daniel Pavilonis, senior market strategist at RJO Futures. Treasury yields have risen to a 16-year high, increasing the opportunity cost of holding non-interest-bearing gold.
Gold reacted negatively to data showing the US economy maintained a strong growth rate in the second quarter, and the weekly report on jobless claims also showed growth slightly lower than expected. expected, creating a temporary calm for gold prices.
Higher interest rates have reduced the appeal of gold as an inflation hedge and could push gold prices below $1,800, said Daniel Pavilonis, senior market strategist at RJO Futures. Treasury yields have risen to a 16-year high, increasing the opportunity cost of holding non-interest-bearing gold.
Gold reacted negatively to data showing the US economy maintained a strong growth rate in the second quarter, and the weekly report on jobless claims also showed growth slightly lower than expected. expected, creating a temporary calm for gold prices.
Note
SELL XAU 1973 - 1975TP1: 1963
TP2: 1965
SL: 1985
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.