XAUUSD bounced strongly on the day of the news
World gold fee at the night time of May 14 became approximately 13.eight% better (285 USD/ounce) in comparison to the quit of 2023. World gold fee transformed via way of means of financial institution USD fee became 72.eight million VND/tael, such as taxes and fees, approximately 16.2 million VND/tael decrease than the home gold fee as of past due afternoon on May 14.
World gold charges accelerated sharply once more after 2 classes of downward adjustment. The weakening USD at the side of growing geopolitical tensions have supported treasured metals.
At eight:50 p.m. (Vietnam time) all through the May 14 consultation at the US floor, the DXY index - measuring the fluctuations of the dollar in opposition to 6 fundamental currencies - reduced to 105.1 factors, in comparison to 105.1 factors. five factors 1/2 of an afternoon away.
World gold accelerated once more after americaA introduced that the PPI manufacturer fee index in April became better than predicted however adjusted the inflation index in March down. It makes buyers stressed whilst comparing US economic policy.
The manufacturer fee index (PPI) is a degree of US inflation.
The PPI index withinside the US in April accelerated via way of means of 0.five%, better than forecast. This places greater stress on expectancies that americaA Federal Reserve (Fed) will quickly decrease hobby rates. And this can regularly cause the USD growing or putting at a excessive level, thereby setting stress on gold.
However, March PPI became adjusted from an growth of 0.2% to a lower of 0.1%.
In fact, the USD at the start of the consultation on May 14 (withinside the US market) reduced in fee, thereby pushing the fee of gold up.
Gold fee forecast
Recently, many forecasts say that international gold charges will stagnate this summer, from May to June due to the fact the Fed delays elevating hobby rates.
However, withinside the medium and lengthy term, international gold charges will growth once more on the quit of the yr whilst americaA reverses its economic policy.
World gold charges accelerated sharply once more after 2 classes of downward adjustment. The weakening USD at the side of growing geopolitical tensions have supported treasured metals.
At eight:50 p.m. (Vietnam time) all through the May 14 consultation at the US floor, the DXY index - measuring the fluctuations of the dollar in opposition to 6 fundamental currencies - reduced to 105.1 factors, in comparison to 105.1 factors. five factors 1/2 of an afternoon away.
World gold accelerated once more after americaA introduced that the PPI manufacturer fee index in April became better than predicted however adjusted the inflation index in March down. It makes buyers stressed whilst comparing US economic policy.
The manufacturer fee index (PPI) is a degree of US inflation.
The PPI index withinside the US in April accelerated via way of means of 0.five%, better than forecast. This places greater stress on expectancies that americaA Federal Reserve (Fed) will quickly decrease hobby rates. And this can regularly cause the USD growing or putting at a excessive level, thereby setting stress on gold.
However, March PPI became adjusted from an growth of 0.2% to a lower of 0.1%.
In fact, the USD at the start of the consultation on May 14 (withinside the US market) reduced in fee, thereby pushing the fee of gold up.
Gold fee forecast
Recently, many forecasts say that international gold charges will stagnate this summer, from May to June due to the fact the Fed delays elevating hobby rates.
However, withinside the medium and lengthy term, international gold charges will growth once more on the quit of the yr whilst americaA reverses its economic policy.
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