Gold Prices Decline as Investors Expect Prolonged Higher Interes
מעודכן
Gold prices were poised for a fourth consecutive weekly decline on Friday, as investors anticipated that the Federal Reserve would maintain higher interest rates for an extended period, which negatively impacted the non-yielding bullion.
Key factors influencing the market include:
Spot gold held steady at $1,911.85 per ounce as of 0023 GMT, registering a 0.4% decline for the week. Meanwhile, U.S. gold futures increased marginally by 0.1% to $1,917.70.
In June, private payrolls in the United States surpassed expectations, indicating a robust labor market despite the escalating risks of a recession due to elevated interest rates.
Lorie Logan, President of the Federal Reserve Bank of Dallas, emphasized the possibility of a rate hike during the June policy meeting, reinforcing her belief that additional rate increases will be necessary to moderate a still-strong economy.
Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost associated with holding non-yielding bullion.
According to CME's Fedwatch tool, investors currently perceive a 92% probability of a 25-basis-point hike in July, following the pause observed last month.
Furthermore, the yield on 10-year Treasury notes (US10Y) rose to its highest level since March 2 after Thursday's labor market data release, further weighing on gold.
Market participants will closely scrutinize Friday's U.S. nonfarm payrolls report to gain more insight into the Fed's rate-hike trajectory. Additionally, they will pay attention to U.S. Treasury Secretary Janet Yellen's visit to Beijing, considering the renewed tensions.
The Bank of Japan's Deputy Governor Shinichi Uchida expressed a commitment to maintain its yield curve control policy for the time being, according to the Nikkei newspaper.
Spot silver (XAGUSD1!) declined by 0.2% to $22.6994 per ounce, while platinum (PL1!) remained relatively stable at $901.18.
Palladium (XPDUSD1) experienced a 0.2% decrease to $1,238.87 but was on track for a 1% weekly gain.
XAUUSD BUY LIMIT 1905 - 1907💯💯
✅ TP1: 1912
✅ TP2: 1917
✅ TP2: 1922
🛑 SL: 1900
Key factors influencing the market include:
Spot gold held steady at $1,911.85 per ounce as of 0023 GMT, registering a 0.4% decline for the week. Meanwhile, U.S. gold futures increased marginally by 0.1% to $1,917.70.
In June, private payrolls in the United States surpassed expectations, indicating a robust labor market despite the escalating risks of a recession due to elevated interest rates.
Lorie Logan, President of the Federal Reserve Bank of Dallas, emphasized the possibility of a rate hike during the June policy meeting, reinforcing her belief that additional rate increases will be necessary to moderate a still-strong economy.
Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost associated with holding non-yielding bullion.
According to CME's Fedwatch tool, investors currently perceive a 92% probability of a 25-basis-point hike in July, following the pause observed last month.
Furthermore, the yield on 10-year Treasury notes (US10Y) rose to its highest level since March 2 after Thursday's labor market data release, further weighing on gold.
Market participants will closely scrutinize Friday's U.S. nonfarm payrolls report to gain more insight into the Fed's rate-hike trajectory. Additionally, they will pay attention to U.S. Treasury Secretary Janet Yellen's visit to Beijing, considering the renewed tensions.
The Bank of Japan's Deputy Governor Shinichi Uchida expressed a commitment to maintain its yield curve control policy for the time being, according to the Nikkei newspaper.
Spot silver (XAGUSD1!) declined by 0.2% to $22.6994 per ounce, while platinum (PL1!) remained relatively stable at $901.18.
Palladium (XPDUSD1) experienced a 0.2% decrease to $1,238.87 but was on track for a 1% weekly gain.
XAUUSD BUY LIMIT 1905 - 1907💯💯 ✅ TP1: 1912
✅ TP2: 1917
✅ TP2: 1922
🛑 SL: 1900
הערה
Do you think it down to Entry ?
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.