Gold bounced off the level of 1900 usd

Hello translators, currently there is a growing concern about increasing risks and worries related to the Chinese economy, which is putting pressure on the price of Gold. These factors have the potential to impact the overall trajectory of Gold prices.

The US Dollar Index (DXY) showed signs of recovery on Tuesday and ended the day with a victory point. Declining yields on US Treasury bonds and a decrease in current home sales in the United States could put pressure on the Greenback.

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According to Chris Yates, yields are nearing a peak but not yet at the point of a sharp decline. The possibility of falling interest rates as well as bond yields could be the story in 2024.

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good luck everyone

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Although gold has faced difficulties recently, there is some optimism that the upcoming Jackson Hole Symposium will help drive up its price again.

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Short-term treasuries currently offer yields around 5%, which is significant competition for gold.