Gold continues to fall as expected, waiting for a recovery point
World gold prices reversed slightly this morning, with spot gold down 12.7 USD to 2,065 USD/ounce. Gold futures were listed at 2,075.8 USD/ounce, down 12.2 USD compared to yesterday morning.
World gold prices decreased slightly after hitting a 3-week high when pressured by the recovery of the USD and rising bond yields. The US Dollar Index rose 0.2% after falling to a five-month low. Benchmark 10-year bond yields rebounded and exited their lowest level since July, denting the appeal of bullion.
This expert predicts gold prices will be higher in the next 12 months thanks to weaker economic data and cooling inflation in the US forcing the Fed to cut interest rates.
Currently, according to the CME FedWatch tool, investors are betting on an 88% chance that the Fed will cut interest rates as early as March.
World gold prices decreased slightly after hitting a 3-week high when pressured by the recovery of the USD and rising bond yields. The US Dollar Index rose 0.2% after falling to a five-month low. Benchmark 10-year bond yields rebounded and exited their lowest level since July, denting the appeal of bullion.
This expert predicts gold prices will be higher in the next 12 months thanks to weaker economic data and cooling inflation in the US forcing the Fed to cut interest rates.
Currently, according to the CME FedWatch tool, investors are betting on an 88% chance that the Fed will cut interest rates as early as March.
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