XAU continues to increase while DXY declines slightly
World gold prices increased sharply yesterday after the Fed decided to keep the standard interest rate unchanged at 5.25-5.5%.
Traders have recently trimmed bets on when the Fed will ease monetary policy this year as the latest data showed the US economy remains resilient and inflation remains “persistent”.
Meanwhile, the weakening dollar and US Treasury yields have prompted some bargain hunting. The dollar fell 0.2% after hitting a near six-month high, making gold cheaper for holders of other currencies, while benchmark US 10-year bond yields also fell.
Traders have recently trimmed bets on when the Fed will ease monetary policy this year as the latest data showed the US economy remains resilient and inflation remains “persistent”.
Meanwhile, the weakening dollar and US Treasury yields have prompted some bargain hunting. The dollar fell 0.2% after hitting a near six-month high, making gold cheaper for holders of other currencies, while benchmark US 10-year bond yields also fell.
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