GOLD - positive after economic data
Gold rebounded from its lowest point in three months during the previous session, thanks to the decline in the dollar and bond yields following the release of US economic data. The pause in interest rates by the US Federal Reserve played a significant role in this recovery.
The Dollar Index dropped by 0.8%, reaching its lowest level in a month. At the same time, 10-year Treasury yields also decreased, resulting in an increased demand for Gold as a safe-haven asset.
While the agreement to maintain steady rates in June has been concluded, the Fed's decision in July is expected to bring about a reversal due to the ongoing threat of deflation. However, there are still indications of potential challenges ahead. In order for gold to make a full recovery, the confidence of Wall Street in the Fed's commitment to no further rate hikes is crucial.
The Dollar Index dropped by 0.8%, reaching its lowest level in a month. At the same time, 10-year Treasury yields also decreased, resulting in an increased demand for Gold as a safe-haven asset.
While the agreement to maintain steady rates in June has been concluded, the Fed's decision in July is expected to bring about a reversal due to the ongoing threat of deflation. However, there are still indications of potential challenges ahead. In order for gold to make a full recovery, the confidence of Wall Street in the Fed's commitment to no further rate hikes is crucial.
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