Advertisements
Home Gold News Gold and Precious Metals See Declines as U.S. Treasury Yields Rise

Gold and Precious Metals See Declines as U.S. Treasury Yields Rise

by anna

Gold futures on the COMEX division experienced a 0.53 percent drop, concluding the most active December contract at $1,988.60 per ounce, amid the ongoing ascent of U.S. Treasury yields. This trend was echoed in silver and platinum futures for December and January delivery, with both witnessing price downturns.

Market Vigilance on Federal Reserve Speeches

The financial market is closely monitoring speeches from Federal Reserve officials, with Chairman Jerome Powell scheduled to deliver one on Thursday, in hopes of gaining insights into potential U.S. rate cuts. Despite the anticipation, traders are projecting that the upcoming December Federal Open Market Committee meeting will maintain the current rates.

Advertisements

Federal Reserve Governor Lisa Cook, in her Tuesday speech at Duke University, acknowledged the resilience of the banking sector following previous bank failures. She also underscored potential risks associated with significant liquidity mismatches in nonbank financial institutions amidst tightening financial conditions and a slowdown in economic activity.

Advertisements

Market Consensus on Banking Sector Stability

Traders’ consensus suggests that the banking sector has stabilized, despite past bank failures. This stability is anticipated to play a pivotal role in the Federal Reserve’s decision to retain current rates during the December meeting. The market’s focus remains firmly on forthcoming speeches by Federal Reserve officials for additional insights into U.S. rate policy.

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