• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

22 October 2024 12:14  |

Gold prices hold near record highs, amid high US bond yields

Gold prices hold near record highs, as investors seem unfazed by high US bond yields Gold (XAU/USD) attracted some dip-buying during the Asian session on Tuesday and remained well within striking distance of fresh record highs, around the $2,740-$2,741 area touched the previous day. Uncertainties surrounding the US Presidential election on November 5, coupled with broader Middle East conflict risks and expectations of interest rate cuts by major central banks, continued to lend some support to the safe-haven precious metal.

Meanwhile, the US Dollar (USD) held firm near its highest level since early August amid a recent surge in the US Treasury bond yields, supported by bets for a smaller rate cut by the Federal Reserve (Fed) in November. This, along with slightly overbought conditions on the daily chart, might hold traders from placing fresh bullish bets around Gold prices and cap gains in the absence of any relevant market-moving US economic data.

Source: FXStreet

Related News

GOLD

Fed Rate Cut Bets Drive Gold to All-Time High

Gold prices extended gains to hit a record high on Friday on expectations of interest rate cuts by the Federal Reserve, while...

13 September 2024 21:27
GOLD

Global uncertainties propel gold to record high, silver soar...

Normal 0 false false false EN-US X-NONE X-NONE ...

21 October 2024 18:55
GOLD

Gold at Over One-Week Low on Firm Dollar, US Payrolls Data A...

Gold prices eased to their lowest in more than a week on Tuesday, pressured by a firm dollar, while investors awaited U.S. no...

4 September 2024 01:51
GOLD

Gold Breaks $2,600 Barrier as Fed Cut Bets Prolong Historic ...

Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest ...

21 September 2024 01:52
BIAS23.com NM23 Ai