Gold Futures Show Resilience Amidst Mixed Market Drivers
Actualizado
Gold futures ended Wednesday without significant changes in prices, as a decline in Treasury yields supported the precious metal's value, maintaining its highest level since early June. However, the U.S. dollar's recent rebound limited the gains for gold this week.
The market dynamics were influenced by several factors. Adrian Ash, the director of research at BullionVault, pointed out that slower inflation alongside higher gold prices might appear counterintuitive to some who believe that precious metals thrive on rising living costs. However, he emphasized that the current focus is more on interest-rate expectations. Three weeks ago, gold experienced a surge after testing the $1,900 floor, largely due to a shift in market sentiment from anticipating sustained high rates to the possibility of rates peaking sooner than expected.
During the week, gold futures showed an overall positive trend, positioning themselves for gains in both the monthly and year-to-date performance.
The strength of the U.S. dollar on Wednesday put some pressure on gold prices, given its dollar-denominated nature. The ICE U.S. Dollar Index, which measures the dollar's value against major currencies, rose by 0.4% to 100.307, marking a 0.4% increase for the week.
On the other hand, U.S. Treasury yields continued to decrease slightly, with the 10-year Treasury yield down 5.1 basis points at 3.742%. Falling bond yields enhance the appeal of gold, as it offers no yield itself.
Looking ahead, the upcoming Federal Reserve policy meeting next week could significantly impact the gold market. Investors will closely observe any changes in the Fed's plans for further interest rate hikes based on the latest batch of U.S. economic data. Rupert Rowling, a market analyst at Kinesis Money, highlighted the critical nature of next week's Fed rate decision as a determining factor in gold's long-term sustainability. If indications from the Fed's press conference and supporting commentary suggest further rate hikes are likely, gold prices could experience a sharp decline despite the expectation of an already priced-in rate increase.
XAUUSD SELL 1983- 1985💯💯
✅ TP1: 1977
✅ TP2: 1970
✅ TP3: 1965
🛑 SL: 1990
The market dynamics were influenced by several factors. Adrian Ash, the director of research at BullionVault, pointed out that slower inflation alongside higher gold prices might appear counterintuitive to some who believe that precious metals thrive on rising living costs. However, he emphasized that the current focus is more on interest-rate expectations. Three weeks ago, gold experienced a surge after testing the $1,900 floor, largely due to a shift in market sentiment from anticipating sustained high rates to the possibility of rates peaking sooner than expected.
During the week, gold futures showed an overall positive trend, positioning themselves for gains in both the monthly and year-to-date performance.
The strength of the U.S. dollar on Wednesday put some pressure on gold prices, given its dollar-denominated nature. The ICE U.S. Dollar Index, which measures the dollar's value against major currencies, rose by 0.4% to 100.307, marking a 0.4% increase for the week.
On the other hand, U.S. Treasury yields continued to decrease slightly, with the 10-year Treasury yield down 5.1 basis points at 3.742%. Falling bond yields enhance the appeal of gold, as it offers no yield itself.
Looking ahead, the upcoming Federal Reserve policy meeting next week could significantly impact the gold market. Investors will closely observe any changes in the Fed's plans for further interest rate hikes based on the latest batch of U.S. economic data. Rupert Rowling, a market analyst at Kinesis Money, highlighted the critical nature of next week's Fed rate decision as a determining factor in gold's long-term sustainability. If indications from the Fed's press conference and supporting commentary suggest further rate hikes are likely, gold prices could experience a sharp decline despite the expectation of an already priced-in rate increase.
XAUUSD SELL 1983- 1985💯💯 ✅ TP1: 1977
✅ TP2: 1970
✅ TP3: 1965
🛑 SL: 1990
Nota
Runing + 70pips ✅ ✅Nota
Hit TP 3 +200pips✅✅Nota
XAUUSD BUY LIMIT 1965 - 1967💯💯 ✅ TP1: 1972
✅ TP2: 1977
✅ TP3: 1982
🛑 SL: 1961
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.