DNVN - On November 13, world gold prices continued to decrease for the fourth consecutive session, affected by the increase in the value of the USD and rising bond yields, after the US released data showing that consumer prices in October 2024 increased as forecast.
Spot gold fell 0.7% to $2,580.39 an ounce, after hitting a near two-month low earlier in the session. Meanwhile, U.S. gold futures fell 0.8% to $2,586.50 an ounce.
Against this backdrop, the US dollar rose to near a seven-month high against major currencies, while 10-year US bond yields also rose.
OANDA market analyst Zain Vawda from MarketPulse said that the market is pricing in the possibility that the US Federal Reserve (Fed) will cut interest rates by 25 basis points in December 2024.
Traders now see an 82% chance the Fed will cut rates in December, up from 58% before the consumer price data was released, according to the CME FedWatch tool.
However, many investors believe that President-elect Donald Trump's policies could force the Fed to pause its easing cycle if inflation rises due to expected new tax measures.
In the Vietnamese market, Saigon Jewelry Company (SJC) announced the buying and selling prices of SJC gold bars at VND80.5 million and VND84 million/tael, respectively.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-the-gioi-ngay-14-11-giam-phien-thu-4-lien-tiep-do-usd-tang-manh/20241114083612303
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