9 Hrs
Source:
الاقتصادية
Gold steadies amid rising dollar and yields
Gold prices remained steady today, Monday, despite a strengthening dollar and rising U.S. Treasury bond yields. This has led to decreased expectations of a Federal Reserve rate hike in October. The spot price of gold fell to approximately $4,139.89 per ounce, while the December futures contract declined to $4,156.80. The retreat in gold prices is attributed to the strength of the dollar, which makes dollar-denominated metals more expensive, coupled with rising 10-year Treasury yields. The probability of a rate increase in October has decreased to 22%, although markets still anticipate a rate hike in December. Investors are awaiting the upcoming Federal Reserve meeting minutes to better gauge the future direction of monetary policy. Meanwhile, Metals Focus projects that the average gold price could reach $5,330 by 2027, as investors shift towards alternatives to dollar-denominated assets.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)