Let's explore the price of gold with Selena!
Today, gold is still unable to break free from the downward trend, trading at a low level for several months now.
It can be seen that gold fluctuated only within the range of 1,820 - 1,830 USD/ounce last night. As of the morning of October 4th, the price of gold continued to trade at 1,821 USD/ounce, a slight decrease of 3 USD compared to the previous day's price of 1,824 USD/ounce.
According to international information, the Federal Reserve (FED) noted that inflation is still too high and there is a need to increase interest rates to control the pressure on commodity prices. Immediately, the yield on 10-year US Treasury bonds surged to 4.75 points, driving a strong flow of money into bonds and creating additional pressure on the price of gold today, causing it to continue its downward journey.
Today, gold is still unable to break free from the downward trend, trading at a low level for several months now.
It can be seen that gold fluctuated only within the range of 1,820 - 1,830 USD/ounce last night. As of the morning of October 4th, the price of gold continued to trade at 1,821 USD/ounce, a slight decrease of 3 USD compared to the previous day's price of 1,824 USD/ounce.
According to international information, the Federal Reserve (FED) noted that inflation is still too high and there is a need to increase interest rates to control the pressure on commodity prices. Immediately, the yield on 10-year US Treasury bonds surged to 4.75 points, driving a strong flow of money into bonds and creating additional pressure on the price of gold today, causing it to continue its downward journey.
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According to the CME FedWatch tool, markets predict a 45% chance of another 25 basis point rate hike this year, but also a 42% chance of the Fed easing monetary policy in the first half of the year. 2024.
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Market participants seem convinced that the Fed will continue to tighten its monetary policy.
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