Delaying interest rate cuts leads to price pressure on Gold
World gold spot price is around 2,303.1 USD/ounce, down 11.9 USD/ounce compared to overnight. Gold futures price in August 2024 on the Comex New York floor is at 2,318.5 USD/ounce.
The gold price on Kitco at 9:00 p.m. (June 13, Vietnam time) was trading at 2,315 USD/ounce, down 0.25% compared to the first session. Gold futures price for delivery in August 2024 on the Comex New York floor is trading at 2,333.4 USD/ounce.
Starting trading on June 13 (US time), world gold prices eased the pressure due to the rising USD, when the DXY version only increased 0.27% to 104.9 points, while continuing to be affected. attacked by the tough money policy of the US Federal Reserve (Fed) announced today, June 12 (US time).
Gold prices continued to decline after the Fed's announcement of cutting interest rates only once this year while still generating 2% consumption. After the Fed's above announcement, gold lost its original momentum and the quality of investor purchases decreased significantly.
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