GOLD moving closer to the threshold of 2,100 USD/ounce
Today's world gold price listed on Kitco is at 2,086 USD/ounce, up 20 USD/ounce compared to early yesterday morning. Gold prices continue to rise thanks to the weakening of the USD and falling Treasury bond yields.
The USD has continuously decreased in recent sessions. The DXY index (measuring the fluctuation of the USD against a basket of major currencies on the night of December 27, Vietnam time) dropped to 101.3 points.
In the past 2 weeks, this index decreased a total of nearly 2.6%. The attraction for international gold thus increased. Investors reflected the expectation that the US would reduce interest rates in 2024 during the recent increase in gold prices. This also means that when the US officially reduces interest rates, it is likely that gold will no longer have much motivation to increase its price strongly.
The USD has continuously decreased in recent sessions. The DXY index (measuring the fluctuation of the USD against a basket of major currencies on the night of December 27, Vietnam time) dropped to 101.3 points.
In the past 2 weeks, this index decreased a total of nearly 2.6%. The attraction for international gold thus increased. Investors reflected the expectation that the US would reduce interest rates in 2024 during the recent increase in gold prices. This also means that when the US officially reduces interest rates, it is likely that gold will no longer have much motivation to increase its price strongly.
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