International gold prices fell last week due to rising US Dollar Index and 10-year Treasury yields for the fourth consecutive week, causing concerns for US consumers and urging the Fed to halt interest rate hikes.
The continuous rise in US interest rates is causing stress among US consumers about living expenses and saving, prompting the Fed to consider pausing interest rate hikes to avoid a recession.
The impact of upcoming news on gold seems minimal this week, based on released forecasts. The $1900 resistance area is crucial for many investors who want to prevent a significant decline in gold prices.
The continuous rise in US interest rates is causing stress among US consumers about living expenses and saving, prompting the Fed to consider pausing interest rate hikes to avoid a recession.
The impact of upcoming news on gold seems minimal this week, based on released forecasts. The $1900 resistance area is crucial for many investors who want to prevent a significant decline in gold prices.
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In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 102.62 points.
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Precious metal prices are considered difficult to rebound strongly in the context of the USD recovering and not having many supporting factors.
Notably, the market is experiencing mixed fluctuations between the world and domestic gold prices despite the continuous decline of the world gold price.
Notably, the market is experiencing mixed fluctuations between the world and domestic gold prices despite the continuous decline of the world gold price.
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In international markets, crude oil prices are falling and trading around $82.25/barrel. The yield on the benchmark 10-year US Treasury note is at 4.15%.
