Gold price today: World gold has not stopped falling deeply

Gold prices on the global market continue to drop this morning, as capital flows from gold to other investments. The precious metal shows no signs of stopping its decline.

The US economy seems to be heading towards a "soft landing" with the lowest unemployment rate in 54 years and a continuing fall in the consumer price index (CPI). Experts predict that the Federal Reserve will maintain high interest rates until Q1 2024 before gradually reducing them to support economic recovery.

Investors are withdrawing from gold and shifting their investments to profitable assets like bonds and stocks due to news of possible interest rate slowdowns. The yield on 10-year US government bonds has been steadily increasing since last week.

Comment:

In the foreign exchange market, the US Dollar Index (DXY) opened this morning at 102.62 points.

Comment:

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.

Comment:

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%.