gold futuresIt fell more than 1% on Friday (10th), mainly due to the weakening of safe-haven demand and the fermentation of Federal Reserve (Fed) Chairman Powell’s hawkish remarks the day before. The weekly line also closed in the black this week.
New York for December deliverygold futuresIt closed down 1.6% at $1,937.70 an ounce, the heaviest one-day drop since the end of September. This week was the first drop in the past five weeks.
goldThe spot price fell 1.1% to US$1,936.09 per ounce, and fell 2.8% this week, the worst performance in six weeks.
City Index market analyst Fawad Razaqzada said: “The hawkish Ball isgoldThe main reason for this week’s weakness. Gold prices have also weakened over the past few weeks as investors’ risk appetite improved. “
Adam Koos, President of Libertas Wealth Management Group said, “gold“The tailwind has disappeared.” It was originally supported by market expectations that interest rates were about to peak, but now it seems to no longer be important in the shadow of the Fed.
Amid the conflict in the Middle East, gold prices hit US$2,000 an ounce last week, but have so far fallen by about US$70.
Fed officials, including Powell, said on Thursday they were still unsure whether interest rates were high enough to end the battle against inflation.dollar indexand 10-year U.S. Treasury yieldBoth posted weekly gains and weakenedgoldThe charm of this non-yielding asset.
Kitco Metals senior analyst Jim Wyckoff said: “goldIt will continue to trend lower in the short term unless we see an escalation in geopolitical events, weak U.S. economic data, or the Fed signals that it is done raising interest rates. “
indian entitygoldDemand is expected to be boosted with the arrival of important festivals, but according to reports, due to higher prices, buying sentiment this year is slightly worse than last year.
stipend、platinumBoth fell. Both metals are used in automotive catalytic converters to help reduce engine emissions.Due to the rapid popularity of electric vehicles, car manufacturers have chosen cheaperplatinum，stipendThe decline has been particularly sharp recently.
2023-11-10 22:00:54
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