XAUUSD - Gold price increased slightly, increase will be stable?
World gold price this morning continued to increase slightly with spot gold increasing by 2.9 USD to 1,897.2 USD/ounce. December gold futures last traded at $1,926.0 per ounce, up $2.30 from the previous morning.
The world gold price has increased slightly in today's trading session 22-8. Short-term offsets and some mild gift-hunting are said to have been the hallmarks of the precious metal's rally, after hitting a five-month low.
The market looks quieter as traders and investors alike turn their attention to the Federal Reserve's annual economic symposium to be held this weekend in Jackson. Hole, Wyoming. All are awaiting a speech by Fed Chairman Jerome Powell to find concerns about the interest rate outlook.
Despite the recent selling pressure, analysts note that the gold market is in the clear despite bond interest strengthening to a new 15-year high. Overnight, US 10-year yields rose to 4.36%, the highest level since late 2007. They also noted that a rise in bond yields is negative for gold as it increases opportunity cost of holding a zero-yield asset like gold. Whatever interest in bonds increases, the price of gold still manages to be qualitatively supported.
The world gold price has increased slightly in today's trading session 22-8. Short-term offsets and some mild gift-hunting are said to have been the hallmarks of the precious metal's rally, after hitting a five-month low.
The market looks quieter as traders and investors alike turn their attention to the Federal Reserve's annual economic symposium to be held this weekend in Jackson. Hole, Wyoming. All are awaiting a speech by Fed Chairman Jerome Powell to find concerns about the interest rate outlook.
Despite the recent selling pressure, analysts note that the gold market is in the clear despite bond interest strengthening to a new 15-year high. Overnight, US 10-year yields rose to 4.36%, the highest level since late 2007. They also noted that a rise in bond yields is negative for gold as it increases opportunity cost of holding a zero-yield asset like gold. Whatever interest in bonds increases, the price of gold still manages to be qualitatively supported.
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