Gold futures prices fell today. while investors sell profits After the price rally yesterday on the weakening of the dollar. and the fall in US government bond yields. After the intervention of the Bank of England (BoE)
At 10:55 pm Thai time, the COMEX (Commodity Exchange) gold contract will be delivered in December. Minus $2.10, or 0.13%, to $1,667.90/ounce.
The BoE announced stabilization measures in financial markets yesterday. by buying unlimited government bonds to support the pound and pressured the British government bond yields to decline.
However, the dollar returned to strength today. which will reduce the attractiveness of gold by making gold contracts more expensive for holders of other currencies.
Investors are also worried that the US release of strong labor market data today will drive the Federal Reserve’s accelerating interest rate hikes.
A rebound in interest rates will increase the opportunity cost of holding gold. Because gold is an asset that does not return in the form of interest.
