During the trading session in Sanya, spot gold suddenly experienced a sharp drop in the short term, with the gold price just breaking below the 1930 US dollar/ounce mark.
The dollar index followed a V-shaped pattern on Tuesday, falling to an intraday low of 104.81 before strongly recovering all its losses to end up 0.06% at 105.13. In U.S. Treasury yields, the two-year yield rose sharply to close at 5.092%; The yield on the 10-year Treasury note closed at 4.365%; The yield on the five-year Treasury rose as high as 4.504%, its highest since 2007.
On Tuesday (September 19), before the Federal Reserve issued its interest rate resolution, the yield of treasury bond bonds rose and the stock market fell.
WCG Markets:2023-09-20
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
European stock markets edged lower Monday, as investors braced for a week packed with central bank meetings, including from the U.S. Federal Reserve.
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Market Trends Last week saw intensive stock market fluctuations influenced by the growing US inflation and the quarterly rollovers. The following week is likely to bring forward significant macroeconomic data, drawing attention from investors and economists alike.
Let's look at the market review for 18th September.
Gold traders are keeping a close eye on this week’s US CPI and PPI figures as the data points will undoubtedly influence the FOMC meeting on 20 September and 1 November.
On Monday 18th: The US NAHB/Wells Fargo Housing Market Index is released.
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On Monday (September 18th), both gold and silver prices rose slightly. Spot gold prices continue to hover around $1930 per ounce.
On Monday, the U.S. dollar index retreated from nearly six-month highs, but still ran above the $105 mark, and eventually closed down 0.24% at 105.07. In terms of U.S. bond yields, two-year U.S. bond yields opened abruptly soaring to a high of 5.490%, and then retraced all of its gains back down to near 5%, and ultimately closed up at 5.056%; 10-year U.S. bond yields narrowly avoided the top of 4.3%, and finally closed at 4.303%.
Federal Reserve Rate Decision is approaching The rise of the US dollar is hindered, and gold breaks through $1,930 resistance
WCG Markets:2023-09-19
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
U.S. stocks fell last Friday (September 15) as massive options expiration added to volatility. Traders weighed the impact of each auto workers' strike while scrutinizing economic data ahead of the Fed's decision.