gold falls This Wednesday, October 4, marks 8 consecutive casualties and touch 7 month minimum. Meanwhile, one settlement in the bond markets of USA raises your performance after economic data that increased the worry for the possibility that the interest rates probably remain high.
He Spot gold falls 0.1% and quotes US$1,822.20 per ounce. Meanwhile, the gold futures in United States give up 0.2%to US$1,838.40.
Gold hits 7-month lows: why?
Data from last Tuesday showed that job offers in the United States increased unexpectedly in August, pointing to a still tense labor market that could lead to the Federal Reserve to raise rates next month.
He 10-year benchmark performance reach new maximum of 16 yearswhile confidence in broader financial markets also remains weak as the bond rout continues.
Gold lost more than $100 in the last two weeksas bets on a long-term rate rise have diminished the attractiveness of this non-interest-bearing asset and have partly eclipsed its traditional safe haven role.
Ricardo Evangelistasenior analyst ActivTradessaid it is likely a decline by below US$1,800 if the narrative that the Fed will keep rates higher for longer continues to gain traction.
In other precious metals, the palladiumused in auto catalysts, fell 1.7%, to $1,169.28 an ounce, after hitting its lowest since November 2018 earlier in the session.
The silver spot fell 0.2%, to $21.12, after declining the day before to its lowest since mid-March, while the platinum fell 0.1%, to $870.58, after hitting its lowest level in a year.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
