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Gold Takes a Fresh Knock Below $1,800 on U.S. Yield Spike

By Barani Krishnan AiVIF.com - Gold’s stay above $1,800 is proving tenuous, at best. A spike in U.S. Treasury yields knocked the yellow metal off the $1,800 perch on...
Gold Takes a Fresh Knock Below $1,800 on U.S. Yield Spike © Reuters.

By Barani Krishnan

AiVIF.com - Gold’s stay above $1,800 is proving tenuous, at best.

A spike in U.S. Treasury yields knocked the yellow metal off the $1,800 perch on Wednesday, barely 24 hours after it had gotten above that mark.

“For gold to avoid a selloff it needs to capture and stay above the $1800 level,” said Ed Moya, head of research for Americas at online trading platform OANDA. “Gold first needs to see lower nominal Treasury yields before investors willingly come back.”

Gold’s bread and butter has been globally easy monetary policies and that is about to moderate, but over the next couple of quarters it could transition to an inflation hedge, but the timing of that will be tricky.”Most-active December gold on New York’s Comex settled down $12.30, or 0.7%, at $1,794.80 after moving between $1,808.45 and $1,792.35.

Renewed pressure came upon gold after yields on the benchmark U.S. 10-year Treasury note rose for the first time in four sessions, climbing 2.1% to a reading of 1.33.

Treasury yields spiked after a surprisingly strong Empire State survey that growth in manufacturing might not be as weak as initially anticipated. This was despite the Federal Reserve reporting on Wednesday that U.S. industrial production grew by a slower 0.4% in August after a 0.8% expansion in July as factory outages forced by Hurricane Ida held up output.

Gold is in some sort of an inflection point with the Fed having entered entering its typical blackout period ahead of its Sept. 21-22 policy meeting,

The question of when the Fed ought to taper its stimulus and raise interest rates has been hotly debated in recent months as economic recovery conflicts with a resurgence of the coronavirus’ Delta variant. Chairman Jay Powell is to hold a news conference next week after the Fed’s two-day policy meeting.

The Fed’s stimulus program and other monetary accommodation have been blamed for aggravating price pressures in the United States. The central bank has been buying $120 billion in bonds and other assets since the Covid-19 outbreak of March 2020 to support the economy. It has also been keeping interest rates at virtually zero levels for the past 18 months.

After declining 3.5% in 2020 from business shutdowns owing to Covid-19, the U.S. economy expanded robustly this year, expanding 6.5% in the second quarter, in line with the Federal Reserve’s forecast.

The Fed’s problem, however, is inflation, which has been outpacing economic growth. The Consumer Price Index expanded by 5.3% for the year to August, data showed.

The Fed’s preferred gauge for inflation - the core Personal Consumption Expenditures Index, which excludes volatile food and energy prices - rose 3.6% in the year through July, its most since 1991. The PCE Index including energy and food rose 4.2% year-on-year.

The Fed’s own target for inflation is 2% per annum.

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21-09-2021 07:02:31 (UTC+7)

EUR/USD

1.1726

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (4)

EUR/USD

1.1726

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (4)

GBP/USD

1.3658

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

USD/JPY

109.43

+0.04 (+0.03%)

Summary

Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (4)

AUD/USD

0.7258

+0.0008 (+0.10%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

USD/CAD

1.2807

-0.0018 (-0.14%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

EUR/JPY

128.31

+0.05 (+0.04%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

EUR/CHF

1.0879

+0.0003 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Gold Futures

1,765.50

+1.70 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (4)

Sell (6)

Silver Futures

22.273

+0.069 (+0.31%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

Copper Futures

4.1338

+0.0088 (+0.21%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (6)

Crude Oil WTI Futures

70.62

+0.48 (+0.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Brent Oil Futures

74.34

+0.28 (+0.38%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

Natural Gas Futures

4.957

0.000 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (0)

US Coffee C Futures

182.30

-4.10 (-2.20%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

4,043.63

-87.21 (-2.11%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (8)

S&P 500

4,357.73

-75.26 (-1.70%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (1)

DAX

15,132.06

-358.11 (-2.31%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (2)

FTSE 100

6,903.91

-59.73 (-0.86%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (3)

Hang Seng

24,099.14

-821.62 (-3.30%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,178.78

-58.09 (-2.60%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (1)

IBEX 35

8,655.40

-105.50 (-1.20%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

BASF SE NA O.N.

61.660

-1.425 (-2.26%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

45.23

+0.16 (+0.36%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (10)

Allianz SE VNA O.N.

183.86

-6.37 (-3.35%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (4)

Adidas AG

280.52

-1.08 (-0.38%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (2)

Sell (6)

Deutsche Lufthansa AG

8.664

+0.454 (+5.53%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Siemens AG Class N

142.26

-6.50 (-4.37%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (5)

Deutsche Bank AG

10.230

-0.850 (-7.67%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

 EUR/USD1.1726↑ Sell
 GBP/USD1.3658↑ Sell
 USD/JPY109.43Buy
 AUD/USD0.7258Sell
 USD/CAD1.2807Neutral
 EUR/JPY128.31Sell
 EUR/CHF1.0879↑ Sell
 Gold1,765.50↑ Sell
 Silver22.273↑ Buy
 Copper4.1338Neutral
 Crude Oil WTI70.62↑ Buy
 Brent Oil74.34↑ Buy
 Natural Gas4.957↑ Buy
 US Coffee C182.30↑ Sell
 Euro Stoxx 504,043.63↑ Sell
 S&P 5004,357.73↑ Buy
 DAX15,132.06↑ Buy
 FTSE 1006,903.91Neutral
 Hang Seng24,099.14↑ Buy
 Small Cap 20002,178.78↑ Buy
 IBEX 358,655.40↑ Sell
 BASF61.660↑ Buy
 Bayer45.23↑ Sell
 Allianz183.86↑ Buy
 Adidas280.52Neutral
 Lufthansa8.664Neutral
 Siemens AG142.26Sell
 Deutsche Bank AG10.230↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,650/ 5,700
(0/ 0) # 856
SJC HCM5,615/ 5,680
(0/ 0) # 836
SJC Hanoi5,615/ 5,682
(0/ 0) # 838
SJC Danang5,615/ 5,682
(0/ 0) # 838
SJC Nhatrang5,615/ 5,682
(0/ 0) # 838
SJC Cantho5,615/ 5,682
(0/ 0) # 838
Cập nhật 21-09-2021 07:02:33
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ↀ Giá vàng thế giới
$1,765.18+10.980.63%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2149021910
RON 95-II,III2139021810
E5 RON 92-II2014020540
DO 0.05S1602016340
DO 0,001S-V1637016690
Dầu hỏa1508015380
ↂ Giá dầu thô thế giới
WTI$70.65+0.40.56%
Brent$74.40+0.30.40%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.645,0022.875,00
EUR25.997,5927.350,60
GBP30.426,3531.697,56
JPY202,06213,76
KRW16,5320,13
Cập nhật lúc 06:59:45 21/09/2021
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