Gold has reversed quickly in recent days amid a resurgent USD and rising US Treasury and real yields. Fed Chair Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium may help rekindle the perception of a hawkish central bank.
Gold prices have been suffering at the hands of familiar fundamental foes from earlier this year: a resurgent US Dollar and the combination of rising US Treasury yields and US real yields. In fact, over the past three weeks, the US 10-year real yield has moved up from 9-bps to 40-bps today; historically, rising US real yields are correlated with negative returns for gold prices.
The drivers of the uptick in gold volatility – higher US Treasury and real yields and a stronger US Dollar – are doing no favors for gold prices, however.at the time this report was written. The 5-day correlation between GVZ and gold prices is
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Latest - Bears Continue to Maul Gold Towards S1,700/oz.The US Fed Funds rate is seen 125 basis points higher than its current level by the end of the year as market expectations see the Federal Reserve continuing to hike rates in the war against inflation. Get your market update from nickcawley1 here:
Read more »
Gold Price Forecast: XAU/USD attemps to correct against strong headwindsGold is being kept under pressure at the start of the week, although the gold price is currently off the lows from the day and attempting to correct.
Read more »
Gold Price Forecast: XAU/USD aims a break above $1,740 ahead of US Durable Goods OrdersGold Price Forecast: XAU/USD aims a break above $1,740 ahead of US Durable Goods Orders – by Sagar_Dua24 Gold XAUUSD Fed Inflation InterestRate
Read more »
Miami Marlins shortstop Miguel Rojas deserves Gold Glove considerationSeveral Marlins players could be in the running for postseason award consideration, while a recent JaxShrimp outfielder is quickly showing promise in the majors.
Read more »
Gold Price Forecast: XAU/USD sees establishment below $1,750 as focus shifts to Jackson HoleGold Price Forecast: XAU/USD sees establishment below $1,750 as focus shifts to Jackson Hole – by Sagar_Dua24 Gold XAUUSD Fed ApparelDurables Inflation
Read more »
Gold Price Forecast: XAU/USD downside is slowing as price corrects from fresh lowsThe gold price is correcting higher in Asia but remains pressured in the grander scheme of things. It has hardened to $1,746. The focus is on the US d
Read more »