Gold futures soared nearly $20, surpassing $2,000 today. driven by the depreciation of the dollar and the fall in US government bond yields.
At 11:18 p.m. Thai time, the COMEX (Commodity Exchange) gold contract is delivered in June. plus $ 19.40 or 0.98% to $ 2,005.60 / ounce
A weaker dollar increases the attractiveness of gold. By making gold contracts cheaper for holders of other currencies. As for the fall in US government bond yields. It will help reduce the opportunity cost of holding gold. Because gold is an asset without interest in the form of returns.
The market keeps an eye on Friday’s non-farm payrolls numbers. which indicates the interest rate direction of the Federal Reserve (Fed).
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