Comex gold contract Delivered in Aug. rose to close at $1,807.7/ounce.
A stronger dollar will reduce the attractiveness of gold. by making gold contracts more expensive for holders of other currencies
As the rebound in US Treasury yields increases the opportunity cost of holding gold. Because gold is an asset that does not return in the form of interest.
Gold prices rose today. After plunging more than 6% in the second quarter, it posted its worst decline in five quarters while being pressured by a strong dollar. and concerns about the acceleration of interest rate hikes by central banks around the world.
Federal Reserve Chairman Jerome Powell has confirmed that the Fed will continue to raise interest rates to curb inflation. even causing the US economy to slow down
Sweden’s central bank or Rigs Bank It announced an interest rate hike by 0.50% this week to 0.75%, its biggest rate hike in 22 years, and signaled further rate hikes to curb inflation, which has hit its highest level since the 1990s.