PRECIOUS-Gold holds ground on softer dollar, rate-hike time out bets

. .

. 2023-06-06T09:00:11.000000 Z(
*) .

Lower rates of interest tend to raise gold as it lowers the chance expense of holding the non-yielding property.

“( However) the constantly-shifting story around how high the terminal rate will need to be and the timeline for rate cuts might challenge gold rates’ advantage in the meantime, till higher clearness is existing on that front,” Jun Rong stated.

Traders have actually priced in an 76% opportunity that the Fed will hold rates of interest at its June 13-14 policy conference, according to CME Group’s FedWatch tool.

A sign of belief, SPDR Gold Trust GLD, the world’s biggest gold-backed exchange-traded fund, stated its holdings increased 0.15% to 939.56 tonnes on Monday from 938.11 tonnes on Friday.

Area silver XAG= fell 0.1% to $23.5632 per ounce, platinum XPT= steadied at $1,030.64, and palladium XPD= increased 0.3% to $1,418.24.


Like this post? Please share to your friends:
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: