较低的利率通常被视为对非生息资产黄金有利。本周晚些时候公布的美国通胀数据可能会为利率走势提供进一步线索。With better-than-expected U.S. employment data, traders have lowered their expectations for a rate cut by the Federal Reserve, leading to a drop in gold prices.
According to the Securities Times app, with better-than-expected U.S. employment data, traders have lowered their expectations for a rate cut by the Federal Reserve, leading to a drop in gold prices.
The data shows that the price of gold is close to $2,643 per ounce, still close to the record high of $2,685.58 reached at the end of last month. Last Friday, the U.S. employment data saw a sharp increase, weakening the possibility of a significant rate cut by the Federal Reserve in November, with key U.S. treasury yield climbing back to 4%. The currency market currently expects that the next interest rate hike will not exceed 25 basis points.
Lower interest rates are usually seen as favorable for non-interest-bearing assets like gold. The U.S. inflation data to be released later this week may provide further clues on interest rate trends.
Gold has risen by about 28% so far this year, reaching a series of historical highs, with the recent increase benefiting from optimistic sentiment about rate cuts. Strong purchases by major central banks and safe-haven demand amid ongoing conflicts in Ukraine, Russia, and the Middle East have also supported the gold price.
At the same time, csi commodity equity indexFutures Trading Commission (CFTC)'s latest data shows that investors are significantly reducing their net short positions in US soybean, corn, and wheat contracts, easing bearish sentiment in the market.According to data released by the committee last Friday, as of October 1, fund managers reduced their net long positions in gold to a three-week low.
Ole Hansen, Head of Commodity Strategy at Shengbao Bank, wrote in a report: "Gold and silver saw net selling as traders took profits in these two seemingly bearish metals after recent price increases. In the case of gold, it is worth noting that due to recent bearish geopolitical concerns, while long-term holders continued to profit from long positions, both long and short positions have been reduced."
On other data, the US dollar spot index remains stable while the U.S. 10-year Treasury notes yield rises. Palladium prices rise, while platinum and silver prices fall.