Gold Prices Inch Up as U.S. Dollar and Treasury Yields Retreat
Gold prices saw an increase on Wednesday, finding stability near the crucial $1,900 mark, thanks to a slight retreat in the U.S. dollar and Treasury yields. This development occurred in anticipation of a gathering of central bankers that is expected to provide insights into the outlook for interest rates.
Key Points:
- Spot gold recorded a 0.2% uptick, reaching $1,900.30 per ounce by 0123 GMT, while U.S. gold futures also climbed by 0.2% to $1,929.40.
- The U.S. dollar index, which had recently reached its highest point in two months, was trading below these highs. Concurrently, the surge in U.S. Treasury yields, which had approached levels not seen in nearly 16 years, momentarily halted, offering some relief to gold. This is notable as gold does not generate interest like other assets.
GOLD
SELL 1900 -1902🕯
✅ TP1: 1897
✅ TP2: 1892
⚠️ SL: 1906
Key Points:
- Spot gold recorded a 0.2% uptick, reaching $1,900.30 per ounce by 0123 GMT, while U.S. gold futures also climbed by 0.2% to $1,929.40.
- The U.S. dollar index, which had recently reached its highest point in two months, was trading below these highs. Concurrently, the surge in U.S. Treasury yields, which had approached levels not seen in nearly 16 years, momentarily halted, offering some relief to gold. This is notable as gold does not generate interest like other assets.
GOLD
SELL 1900 -1902🕯 ✅ TP1: 1897
✅ TP2: 1892
⚠️ SL: 1906
