Gold rebounds slightly but remains below 4200 USD, market awaits US data
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Spot gold rebounded slightly but remained below 4200 USD/ounce, as the market awaits US economic data for guidance.
Article
Institution: Gold stops falling and rebounds, but pressure remains; market awaits US economic data for guidance
BlockBeats reports,September 29, an institution’s analysis indicates that spot gold rose slightly on Tuesday but was still trading below 4200 USD/ounce, after US Treasury yields rose to multi-decade highs and rising crude oil prices triggered a sell-off in precious metals markets on Monday.IG Analysts said: “As market expectations that the Federal Reserve will maintain high interest rates for longer weaken investors’ interest in non-yielding assets, gold has rebounded only slightly and remains near its lowest level since early.” According to the CME FedWatch Tool, traders currently estimate that the probability of the Federal Reserve August rate hike is October. The market is currently focused on a series of US economic data releases, including the consumer confidence index and job openings data due later Tuesday evening. (Jinshi)
Original link 72.5%https://m.theblockbeats.info/flash/369522
Key points
01
The report date is September 29。
02
Spot gold rose slightly on Tuesday but was still trading below 4200 USD/ounce.
03
The report linked Monday’s sell-off in precious metals markets to US Treasury yields rising to multi-decade highs and rising crude oil prices.
04
IG Analysts said that expectations of the Federal Reserve maintaining high interest rates for longer weakened investors’ interest in non-yielding assets.
05
IG Analysts said gold rebounded only slightly and remained near August its lowest level since early.
06
According to the CME FedWatch Tool, traders expect the Federal Reserve to October the probability of a rate hike is 72.5%。
07
The market is watching the consumer confidence index and job openings data.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Although gold has recovered slightly from its earlier decline, its price remains at the relatively low level described in the report.IG Analysts believe that expectations of high interest rates lasting longer have reduced gold’s appeal as a non-yielding asset. The market is now waiting for US consumer confidence and job openings data.
Why it matters to readers
The report indicates that gold prices are being affected by interest-rate expectations and changes in US Treasury yields; forthcoming US economic data may alter the market’s assessment of the Federal Reserve’s policy path.
Beginners should distinguish between “the price has risen” and “the pressure has disappeared”: the article only says that gold rebounded slightly and does not state that its earlier weakness has been reversed.
Risks and unknowns
The article only refers to “an institution’s analysis” and does not identify the institution.
IG The analyst is unnamed, and the assessment is an analytical opinion.
The consumer confidence index and job openings data had not yet been released at the time of the report.
72.5%The rate-hike probability is a trader expectation and does not represent the Federal Reserve’s final decision.
The article does not provide gold’s performance after the US economic data were released.
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Spot gold
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