Gold futures are gaining nearly 1.6%, with yields on US 10-year US bonds falling 3 basic points, below 4.2%. Silver is also trading up 1.8% today.
- Following Fed Chairman Jerome Powell's speech yesterday, Fed interest rate contracts are pricing in a September rate cut with a near 100% probability;
- Powell signalled that the Fed will cut rates before inflation reaches its 2% target, and that delaying the decision would weaken the economy;
- Perspectives of U.S. interest rates pressuring the US dollar and bond yields, making bullion more attractive. Gold prices are up more than 19% this year, following a 13% rise in 2023.
- Even higher-than-expected US retail sales data for June, which strengthened the dollar slightly, failed to hold gold back today;
- A still bullish backdrop for gold trend prices is also provided by recession risk and geopolitics, which, according to a BofA FMS survey in the face of ongoing disinflation, is now the biggest 'tail risk' to the health of the global economy and asset valuations
- The soon expected normalization of monetary policy in the United States appears to be a key factor, driving up gold prices and potential spot purchases by ETFs.
GOLD (Interval D1)
Gold is climbing to new historic highs today. Source: xStation5
ملخص اليوم: وول ستريت في حالة من الترقب والانتظار بينما تدرس الولايات المتحدة رفع العقوبات عن النفط الإيراني
هل يكمل ناسدك الاتجاه الصعودي
تراجع أسعار النفط مجدداً، على الرغم من الاضطرابات المحيطة بمضيق هرمز
ملخص اليوم: نهاية أسبوع شديد الحماس
