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The dollar weakened and the gold rose slightly

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发表于 2018-10-10 14:50:11 | 显示全部楼层 |阅读模式
On Wednesday, the Asian market, benefiting from the weakening of the US dollar, the gold futures rose slightly. On the previous trading day, US Treasury yields fell from a seven-year high.
As of 14:35 Beijing time (02:35 am ET), the New York Mercantile Exchange Comex December futures gold price rose 2.1 US dollars or about 0.18%, to 1,193.60 US dollars.

The US dollar index futures, which measures the movement of the dollar against a basket of six major currencies, fell 0.08% to 95.28.

According to reports, US President Donald Trump believes that the Fed’s interest rate hike is too fast, causing market concern.

In an interview with CNBC, Trump said, "I don't think there is no need to raise interest rates so quickly." Trump said there is no need to raise interest rates if there is no sign of inflation in the economy. However, Trump also said that he did not pass the Federal Reserve’s interest rate decision with Federal Reserve Chairman Jerome Powell.

Gold also benefits from rising risk aversion. Earlier, the International Monetary Fund cut its economic growth forecast for the United States, China, the euro zone and the United Kingdom, and said that the global economic growth rate will be only 3.7% in 2018 and 2019, lower than the previous 3.9%.

Although the price of gold has risen recently, the price of gold has fallen by more than 13% since April. The market believes that the strengthening of the US dollar and the rise in the yield of US Treasury bonds are the main reasons for the decline in gold prices.


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