There’s a hint of dead-cat bounce around Gold’s Thursday pop as higher Treasury yields and a stronger Dollar continue to weigh on prices.
recovered a little on Thursday following three days of falls this week, but the market remains beset by relentless rises in high-quality bond yields, notably in the United States but also elsewhere, as markets move to price in higher interest rates for longer.meeting at which ‘most participants’ reportedly still saw considerable upside risks to inflation, of the order which may warrant more interest rate hikes.
Gold tends to do much better in times of low or negative interest rates when small yields on offer elsewhere serve to gloss over the complete lack of yield inherent in holding the metal. Those days are clearly long gone, and the jury remains out as to if, or when, they might come back.
France Dernières Nouvelles, France Actualités
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