GOLD- The USD stopped increasing in price
Today's gold price on the international market decreased by 15 USD, from 1,875 USD/ounce to 1,865 USD/ounce at 6:00 a.m. on September 29.
Although the USD stopped increasing in price, the world gold price still dropped shockingly because the value of this currency is still high, the USD Index remained stable at 106.6 points.
Mr. Jamie Dimon - CEO of JP Morgan noted that the market needs to prepare for interest rates at 7% in the coming months. Because, the basic salary in the US is currently at 5.25% -5.5%. If the US continues to raise interest rates, the USD will continue to increase in price in the near future, creating pressure on gold prices.
At that time, US bond yields increased to 4.61%/year - the highest level in the past 16 years, and at the same time US and European stock markets increased again.
Although the USD stopped increasing in price, the world gold price still dropped shockingly because the value of this currency is still high, the USD Index remained stable at 106.6 points.
Mr. Jamie Dimon - CEO of JP Morgan noted that the market needs to prepare for interest rates at 7% in the coming months. Because, the basic salary in the US is currently at 5.25% -5.5%. If the US continues to raise interest rates, the USD will continue to increase in price in the near future, creating pressure on gold prices.
At that time, US bond yields increased to 4.61%/year - the highest level in the past 16 years, and at the same time US and European stock markets increased again.
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