XAUUSD - The rising USD 'overwhelmed' the price of gold down
Gold prices today, September 26, on the world market decreased in the context of a sharp increase in US bonds. USD index rose to highest level in 6.5 months.
Gold prices fell and US Treasury bond yields increased and reached their highest level in many years. DXY index rose to highest level in 6.5 months. The DXY index (movement of the greenback against 6 major world currencies) traded at 106.4 points.
Daniel Ghali, senior commodity strategist at TD Securities, said advisors should pay close attention to the economic data released this week.
US GDP data scheduled for release on September 28 (US time) will likely disappoint, creating concerns that the US economy could run into difficulties. Thereby creating a positive trend for the gold market.
In addition, the number of individual users announced on September 29 is also likely to support gold prices.
Gold prices fell and US Treasury bond yields increased and reached their highest level in many years. DXY index rose to highest level in 6.5 months. The DXY index (movement of the greenback against 6 major world currencies) traded at 106.4 points.
Daniel Ghali, senior commodity strategist at TD Securities, said advisors should pay close attention to the economic data released this week.
US GDP data scheduled for release on September 28 (US time) will likely disappoint, creating concerns that the US economy could run into difficulties. Thereby creating a positive trend for the gold market.
In addition, the number of individual users announced on September 29 is also likely to support gold prices.
TP1: 1918
TP2: 1926
SL: 1903