Last week’s data revived hopes of a possible easing of monetary conditions by the Fed sooner than expected.
Gold experiences a drop in its price this Monday, moving away from the highs reached two weeks ago. This movement is mainly due to the rebound in the yields of the United States Treasury bonds, generating expectations and uncertainty among investors, who are carefully awaiting the minutes of the last meeting of the Federal Reserve scheduled to be revealed.
The value ofparrot spot shows a decrease of 0.1%, standing at US$1,977.30 per ounce, after having reached US$1,993.29 last Friday. Simultaneously, the futures of gold In the United States they registered a drop of 0.3%, reaching US$1,979.60.
Gold: the data that the market expects
Exinity’s Han Tan comments: “Gold bulls are taking a respite after a rise of more than 2% last week. “In addition, there could be geopolitical risk premiums that have not yet been priced into current prices.”
The market seems to be awaiting the results of the auction of 20-year Treasury bonds today to determine whether or not they will extend last week’s gold gains, Tan adds.
Last week’s data revives hopes of a possible easing of monetary conditions by the Fed sooner than expected, after reports indicating a slowdown in the US labor market and weaker-than-expected consumer inflation.
Source: Ambito
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