empty
08.09.2023 11:02 PM
Gold prices inch higher as U.S. treasury yields dip

This image is no longer relevant

Gold prices modestly climbed on Friday, driven in part by a decline in U.S. government bond yields. At the time of writing, December futures for gold on the COMEX in New York were edging up to $1,925 per troy ounce.

The 10-year U.S. Treasury yield, meanwhile, slipped to 4.228% from 4.264% compared to the previous trading session. U.S. government bonds, seen as a gold alternative, often move inversely to the precious metal.

The metal's recent stability reflects the market's anticipation of consistent monetary policy from the U.S. Federal Reserve. The Federal Reserve's next meeting is slated for September 19-20. According to CME Group data, 93% of analysts believe the U.S. central bank will hold off on any rate hikes, keeping it at its current range of 5.25% to 5.5%. However, one or even two rate hikes by year-end remain a possibility.

The dollar has been on its longest winning streak in nine years, buoyed by robust U.S. economic data. Such strength in the world's largest economy casts doubt on the end of the Fed's aggressive rate-raising cycle.

The U.S. service sector unexpectedly expanded in August, while unemployment claims reached their lowest point since February. In stark contrast, the European Union displayed less encouraging numbers, with Germany's industrial production in July falling more than analysts anticipated. Comparatively, the U.S. continues to outperform Europe in terms of growth indicators.

Since the U.S. non-farm payrolls data release last week, spot gold prices have seen only a marginal shift of around $15. They dipped from their closing level of $1,940 on September 1 to $1,925 by September 8. For a new trend to emerge, the market needs to break this $15 range. It's crucial for bears to breach below the $1,915 support level, while bulls aim for an advance above the $1,930 resistance.

Following the August employment report, the market seems to be in want of convincing data to shake up inflation or gold rates. With less than two weeks to the next Federal Reserve meeting, this range may persist.

However, the U.S. dollar remains a wildcard. The U.S. dollar index, which gauges its performance against major currencies, dipped 0.15% to 104.89 in August but stayed close to its six-month high of the previous session at 105.15. A strengthening dollar typically pressures gold, explaining the metal's subdued performance over the past week.

The index was on track to ascend for the 8th consecutive week, but has now decreased slightly by 0.08% to 104.97.

According to Dixit, a short-term correction in the dollar index could see it potentially descend to support zones at 104, 103.50, and 103, especially if the 104.75 - 104.50 support area is breached.

Should this occur, gold prices might find an upward thrust.

Andreeva Natalya,
Especialista em análise na InstaForex
© 2007-2025
Selecionar intervalo de tempo
5
min
15
min
30
min
1
hora
4
horas
1
dia
1
s.
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO

Recommended Stories

Por que as ações estão subindo enquanto o yuan cai e os futuros dos EUA recuam?

Ações sobem, mas futuros dos EUA caem Ações chinesas sobem mesmo com o yuan atingindo a mínima de vários anos Ações europeias sobem após Trump suspender tarifas Rodada do mercado

Thomas Frank 18:19 2025-04-10 UTC+2

Mercado dos EUA em 10 de abril: Reações ao Alívio nas Tarifas e Expectativas

S&P 500 atinge nova máxima histórica, mas resistência em 5.669 permanece como principal obstáculo. Suspensão temporária de tarifas impulsiona os ganhos: S&P 500 e Nasdaq encerram o dia em alta

Irina Maksimova 18:06 2025-04-10 UTC+2

Bitcoin luta para encontrar apoio enquanto a turbulência tarifária agita os mercados globais

A principal criptomoeda segue em um estado instável, sem conseguir estabelecer uma base sólida. O Bitcoin enfrenta alta volatilidade e registrou perdas nesta semana. Ainda assim, especialistas permanecem otimistas, prevendo

Larisa Kolesnikova 15:18 2025-04-10 UTC+2

Resumo de notícias do mercado dos EUA para 9 de abril

Os índices acionários dos EUA encerraram o pregão em queda após o anúncio da Casa Branca sobre uma nova rodada de tarifas sobre produtos chineses. As alíquotas podem chegar

Irina Maksimova 18:16 2025-04-09 UTC+2

Efeito dominó: tarifas dos EUA derrubam mercados; investidores fogem do dólar e dos títulos

Tarifas de Trump sobre a China geram temores de recessão Os títulos do Tesouro dos EUA e o dólar são atingidos pela liquidação, e os rendimentos sobem Ações europeias caem

Thomas Frank 18:14 2025-04-09 UTC+2

Previsões para o ouro: US$ 3.500, US$ 3.700 - até onde pode subir?

As previsões para o ouro estão se tornando cada vez mais impressionantes em todos os sentidos, com analistas praticamente competindo entre si para estimar até onde o metal precioso pode

Larisa Kolesnikova 15:24 2025-04-09 UTC+2

Resumo de notícias do mercado dos EUA para 8 de abril

A mais recente rodada de tarifas impostas pelo governo Trump está reformulando as expectativas econômicas. O Goldman Sachs agora projeta uma recessão nos próximos 12 meses, enquanto analistas do JPMorgan

Ekaterina Kiseleva 18:38 2025-04-08 UTC+2

Mercados em tumulto: Dow despenca, ouro sobe, Trump aumenta a tensão

Índices: S&P 500 caiu 0,23%, Nasdaq subiu 0,10%, Dow caiu 0,91% O S&P 500 continua oscilando à beira de um mercado em baixa Trump ameaça mais tarifas sobre a China

Thomas Frank 17:25 2025-04-08 UTC+2

Mercados em montanha-russa: Dow despenca, ouro reage e Trump mantém investidores em alerta

As mudanças nos índices de Wall Street nas últimas 24 horas: o S&P 500 caiu 0,23%, o Nasdaq subiu 0,10% e o Dow caiu 0,91%. O S&P 500 ainda

15:27 2025-04-08 UTC+2

Guerra comercial: S&P 500 despenca 3%, Nikkei 6% enquanto os investidores se preparam para o pior

Futuros de Wall Street abrem em forte queda Os investidores temem uma recessão nos EUA em meio à escalada da guerra comercial. Trump anuncia tarifas maciças sobre os principais parceiros

Thomas Frank 18:30 2025-04-07 UTC+2
Não pode falar agora?
Faça sua pergunta no chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.