Advertisements
Home Gold Prices Gold Prices Stabilize Above $2,460 as Dollar Rebounds (July 18)

Gold Prices Stabilize Above $2,460 as Dollar Rebounds (July 18)

by anna

Gold prices (XAU/USD) showed a modest increase during the Asian trading session on Thursday, halting a recent retracement from a fresh record high achieved the previous day. Currently trading just above $2,460, gold’s upward movement is constrained by several factors.

The US Dollar (USD) has attracted buyers, reversing some of the previous day’s significant losses that had pushed it to a nearly four-month low. This rebound, coupled with strong bullish sentiment in global equity markets, may act as a headwind for gold prices. Despite this, the near-term outlook appears to favor bullish traders.

Advertisements

Investors have largely priced in a 25-basis point rate cut by the Federal Reserve in September, with expectations for further reductions in December due to easing inflationary pressures. This anticipated monetary easing could limit further gains in US bond yields and the USD, potentially supporting gold prices, which benefit from lower yields.

Advertisements
Advertisements

You may also like

Lriko logo

Lriko is a gold portal website, the main columns include gold pricespot goldsilver pricespot silvergold futures, nonfarm payroll, gold basics, gold industry news, etc.

© 2023 Copyright  lriko.com