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    Gold Fundamentals Remain Neutral

    Abstract:Gold's fundamentals will remain neutral, and under fundamental strengths, the dollar and US Treasury yields will reach a delicate balance.

      WikiFX News (26 June)- Gold's fundamentals will remain neutral, and under fundamental strengths, the dollar and US Treasury yields will reach a delicate balance.

      Since the gold price has bottomed out in late March, it has struggled to maintain its upward momentum. Since then, gold, as an alternative asset to currencies, has been lacking its trading direction.

      After the Feds interest rate decision in June, the S&P 500, Dow Jones and Nasdaq composite indexes all hovered astray from their upward trends. Recently, the safe-haven dollar has begun to recover. Fed Chairman Jerome Powell's cautious comments on economic prospects, coupled with the rise in new cases of the epidemic, have boosted the market, while also causing a pullback in US Treasury yields.

      Amid the appreciation of the US dollar and the decline in the yield of US Treasury bonds, it may be difficult for gold prices to choose a direction in a short term. However, looking ahead, as the Fed said it would avoid raising interest rates prematurely, low borrowing costs may be beneficial to gold prices. Nonetheless, the risk of gold is still recovering rapidly in volatility, which thereby stimulates the market's demand for liquidity. It is similar to what happened during the COVID-19 outbreak,

      The above information is provided by WikiFX, a world-renowned forex information query platform. For more information, please download the WikiFX App. bit.ly/WIKIFX

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