Gold prices decreased slightly at the beginning of the trading s
Updated
Gold prices decreased slightly at the beginning of the trading session in the US. The precious metals bullish trend was limited earlier this year by better economic data. The market has reduced expectations that the Federal Reserve (Fed) will soon cut interest rates.
According to the US Department of Commerce, retail sales increased 0.6% in December 2023 compared to the previous month, exceeding economists' expectations and showing that Americans are still driving the economy with spending. their.
The US stock market had a lot of positivity at the beginning of the session. The recovery of the US stock market is also negative for precious metals, as stocks are an asset class that competes with gold and silver.
The USD index is slightly weaker. Nymex crude oil price increased slightly and traded around 73.75 USD/barrel. The 10-year US Treasury bond yield is currently at 4.107%.
Meanwhile, China kept the basic interest rate unchanged at the PBOC Central Bank's monetary policy meeting. This is disappointing for price speculators in the commodity market.
According to the US Department of Commerce, retail sales increased 0.6% in December 2023 compared to the previous month, exceeding economists' expectations and showing that Americans are still driving the economy with spending. their.
The US stock market had a lot of positivity at the beginning of the session. The recovery of the US stock market is also negative for precious metals, as stocks are an asset class that competes with gold and silver.
The USD index is slightly weaker. Nymex crude oil price increased slightly and traded around 73.75 USD/barrel. The 10-year US Treasury bond yield is currently at 4.107%.
Meanwhile, China kept the basic interest rate unchanged at the PBOC Central Bank's monetary policy meeting. This is disappointing for price speculators in the commodity market.
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