XAU currency trend as USD rises
Updated
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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