Gold futures price

The price of gold futures continued to fall. Most recently broke the $1,960 level today. It was affected by the appreciation of the dollar. which will reduce the attractiveness of gold By making gold contracts more expensive for holders of other currencies.

At 1:35 a.m. Thai time, the COMEX (Commodity Exchange) gold contract is delivered in August. minus $ 8.80 or 0.45% to $ 1,957.80 / ounce

However, gold prices have been boosted by investors placing orders for gold as a safe-haven asset. After Russia announced it withdrew from the agreement to export grain from Ukraine via the Black Sea route. and attacked Ukrainian ports in the Black Sea

Investors are keeping an eye on the US Federal Reserve (Fed) monetary policy meeting this week, with almost 100% weight on expectations that The Fed will raise interest rates by 0.25% in this round of meetings.

The latest CME Group FedWatch Tool indicates that investors are 99.8% weighting that the Fed will raise interest rates 0.25% to a range of 5.25-5.50% at its July 25-26 meeting, and only 0.2% weighting that the Fed will hold rates at 5.00-5.25%.

In addition, the market sees that the Fed is close to ending its rate-raising cycle. After revealing retail sales, the consumer price index (CPI) and the producer price index (PPI) were lower than expected. by investors predicting that The Fed will raise interest rates this month for the last time this year. and will maintain the interest rate for the remainder of the year. before cutting interest rates next year

Investors gave 39.9% weight to the Fed’s decision to cut interest rates by 0.25% to a range of 5.00-5.25% at its meeting on March 19-20, 2024, up from 32.9% last month.

2023-07-24 18:40:43
#price #gold #futures #flows #nonstop #dropped

The price of gold futures continued to fall. Most recently broke the $1,920 level today. under pressure from the appreciation of the dollar which will reduce the attractiveness of gold By making gold contracts more expensive for holders of other currencies.

At 8:05 p.m. Thai time, the COMEX (Commodity Exchange) gold contract is delivered in August. minus $ 13.60 or 0.7% to $ 1,919.90 / ounce

Investors keep an eye on US inflation releases this week.

The US will release the Consumer Price Index (CPI) for June on Wednesday. and the Producer Price Index (PPI) on Thursday.

In addition, the market will keep an eye on the comments of several Federal Reserve officials (Fed) for any indication of the direction of the Fed interest rates.

Investors put more than 90% of their weight on the forecast that The Fed will raise interest rates this month. After the release of non-farm payrolls on Friday.

The latest CME Group FedWatch Tool shows investors are 92.4% weighing on the Fed raising interest rates by 0.25% to a range of 5.25-5.50% at its July 25-26 meeting, and 7.6% weighing on the Fed. will maintain the interest rate at 5.00-5.25%

Analysts stated that The Fed will continue to raise interest rates. Although the non-farm payrolls were released lower than expected. Because the wage figures in the report still indicate rising inflation.

“The lower-than-expected employment figures are not supported by other details in the employment reports. The Fed is still likely to raise interest rates by 0.25% this month,” said Academy Securities analyst Peter Scher.

2023-07-10 13:26:39
#price #gold #futures #flows #nonstop #dropped

2023-06-08 14:21:07
#price #gold #futures #soared #nonstop #surpassed