GOLD goes below the threshold of 2,000 USD
World gold prices increased slightly this morning with spot gold increasing by 2.5 USD to 1,992.1 USD/ounce. Gold futures last traded at 1,993.3 USD/ounce, up 0.5 USD compared to yesterday morning.
The USD turned down in the context of US 10-year Treasury bond yields falling to their lowest level in 2 months. The US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased 0.17%, reaching 103.75.
Gold prices have had a pretty good "performance" when exceeding the threshold of 2,000 USD/ounce a few times. Although the world gold price has not been able to maintain this price level, it will not take long for it to rise as the market increasingly expects the US Federal Reserve (FED) not to raise interest rates further.
The USD turned down in the context of US 10-year Treasury bond yields falling to their lowest level in 2 months. The US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) decreased 0.17%, reaching 103.75.
Gold prices have had a pretty good "performance" when exceeding the threshold of 2,000 USD/ounce a few times. Although the world gold price has not been able to maintain this price level, it will not take long for it to rise as the market increasingly expects the US Federal Reserve (FED) not to raise interest rates further.
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