Reporters reported that today (December 29 ’22), the price of gold futures rose above today’s $1,820 level. The positive factor from the depreciation of the dollar. and the decline in the yield on 10-year US government bonds.
At 2208 Thai time, the COMEX (Commodity Exchange) gold contract was delivered in February. plus $5.0 or 0.28% to $1,820.80/ounce
The depreciation of the dollar increases the attractiveness of gold. It made gold contracts cheaper for holders of other currencies, but trade was scarce. While some investors are out of business at the end of the year.
Spot gold was up about 9% in the fourth quarter, rebounding to nearly $200 after plunging to its lowest in more than two years in September.
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