Updated gold price at 7:28 am around 1,901.8 USD/ounce, recovering 0.07% so closing the next trading session. Before recovering to fluctuate in the range of 1,900 - 1,903 USD/ounce, the precious metal has now slipped below the important threshold of 1,900 USD/ounce.
Experts have commented on gold's 'lackluster' performance given the precious metal is testing support at its lowest level in August, just above 1,900 USD/ounce. A strong and fighting economy is forcing the Federal Reserve to maintain “higher for longer” monetary policy, leaving safe havens like gold well-supported.
“Despite what the Federal Reserve has said, it remains unclear to me whether we are on the verge of a soft landing,” said Joy Yang, global head of index product management at MarketVector Indexes. Advisors are on 'wait' mode and that's why we haven't found any momentum worth gold yet."
Although the current bond market sell-off is a logical sequence, according to some economists, there is a growing risk that the bond market will become destabilized again as U.S. debt continues to grow. according to Continue Rising.
Experts have commented on gold's 'lackluster' performance given the precious metal is testing support at its lowest level in August, just above 1,900 USD/ounce. A strong and fighting economy is forcing the Federal Reserve to maintain “higher for longer” monetary policy, leaving safe havens like gold well-supported.
“Despite what the Federal Reserve has said, it remains unclear to me whether we are on the verge of a soft landing,” said Joy Yang, global head of index product management at MarketVector Indexes. Advisors are on 'wait' mode and that's why we haven't found any momentum worth gold yet."
Although the current bond market sell-off is a logical sequence, according to some economists, there is a growing risk that the bond market will become destabilized again as U.S. debt continues to grow. according to Continue Rising.
