The price of gold futures continued to rise. Recently, near the level of $ 2,000, driven by the weakening of the dollar. and the fall in US government bond yields.
At 00:38 Thai time, the COMEX (Commodity Exchange) gold contract was delivered in June. plus $ 12.80 or 0.64% to $ 1,997.30 / 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.
Investors will keep an eye on the Personal Consumption Expenditure (PCE) price index tomorrow. It’s the measure of inflation that the Fed cares about. It can detect changes in consumer behavior. and covers a broader range of prices for goods and services than the Consumer Price Index (CPI) data.