Investing.com– Gold prices rose slightly in Asian markets on Thursday. It is still near the highest levels. A stronger dollar, however, affects the entire metals market. With speculation that Trump will run for a second term as president.
The price of copper in the industrial metal group fell again. This is because the Chinese government’s record of supporting the real estate market has not been impressive.
Falling government bond yields support gold prices. Includes expectations for interest rates from major central banks. The European Central Bank is expected to cut interest rates by 25 basis points later in the day.
The price, which expires in December, rose 0.1% to $2,694.40 an ounce at 00:23 ET (04:23 GMT) at 00:23 ET (04:23 GMT).
Gold prices close to highs Amid reduction in yields and interest rate cuts
Spot prices hit a record high of $2,685.96 an ounce on Wednesday.
Gold prices were supported by weakness in bond yields, with the species down 0.5% on Wednesday amid growing speculation that Donald Trump Trump will win a second term.
Trump is considered to surpass Vice President Kamala in the popularity rating. Harris on the online gambling market Meanwhile, recent media polls show Harris slightly ahead. But with about three weeks left to vote, the market is preparing for strong competition.
Trump’s policies are expected to cause inflation. That’s the thinking that weighed on Treasury yields and took them to their strongest level since early August.
The market is still waiting for further interest rate cuts from central banks. The European Central Bank is widely expected At the end of Thursday’s meeting other precious metals prices were mixed, rising 0.5% to $1,012.40 an ounce, while falling 0.7% to $31.760 an ounce.
Copper falls as signs of China’s real estate sector are not good.
on the London Metal Exchange fell 0.6% to $9,548.50 per ton, and in December they fell 0.6% to $4.3445 per pound.
Both contracts recently extended losses after China provided a disappointing summary of its latest economic aid plan. China’s housing minister outlined additional measures to support the property market on Thursday. This includes a larger list of developers eligible for government funding.
Thursday’s announcement was the latest in a series of announcements about China’s economic stimulus measures. as Beijing mobilizes more support for the economy But reports in the past have not been very successful either.
from the event As a result, copper prices have fallen significantly over the past week. And China’s third quarter figures will be released on Friday.
2024-10-17 07:12:00
#Gold #Prices #AllTime #Highs #Copper #Falls #Investing.com
