Gold price today The slowdown as rising US bond yields dampened demand for the safe-haven asset. Specifically, the US 10-year bond yield inched up after falling from a three-year high on Wednesday (April 20).
US bond yields have edged higher on expectations that the US Federal Reserve (FED) will aggressively raise interest rates as inflation rises to a 40-year high.
Gold prices are very sensitive to rising short-term US interest rates and higher bond yields, as this increases the opportunity cost of holding non-yielding assets like gold.
Domestic gold price
At the end of the trading session on April 21, Saigon Jewelry Company listed the price of SJC gold at 69.7 million dong/tael (buying in) and 70.4 million dong/tael (sold out).
DOJI Group listed the gold price at 69.70 million dong/tael (buying in) and 70.40 million dong/tael (sold out).
Gold price forecast
Brian Lan, managing director at GoldSilver Central, said that if gold prices fail to reach $2,000 an ounce, traders can take profits and move money into stocks or even short-term bonds.
Earlier this week, gold was close to the key $2,000 an ounce level as concerns surrounding the conflict between Russia and Ukraine as well as rising inflationary pressures boosted the precious metal’s appeal.
at Blogtuan.info – Source: vtc.vn – Read the original article here