Gold Price Forecast: Marked rise in yields sparked by rating downgrade a headwind to XAU/USD – Commerzbank Gold XAUUSD RatingAgencies YieldCurve Banks
even dipped for a time to a 3 1⁄2-week low of $1,925 despite US rating downgrade. Economists at Commerzbank compare this situation with the way Gold reacted to the first US rating downgrade around twelve years ago.Gold price declined despite the US credit rating being downgraded by a rating agency.
The current situation is hardly comparable: this year’s high was already achieved three months ago, and the Gold price has been trending sideways since mid-May. The marked rise in yields sparked by the rating downgrade has even generated headwind, as has the fact that the US Dollar appeared unimpressed and actually appreciated.Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD keeps $1,960 in the spotlight as United States inflation loomGold Price Forecast: XAU/USD keeps $1,960 in the spotlight as United States inflation loom – by anilpanchal7 Gold XAUUSD Inflation Fed RiskAversion
Read more »
Gold Price Forecast: XAU/USD struggles to capitalize on post-NFP bounce from multi-week lowGold Price Forecast: XAU/USD struggles to capitalize on post-NFP bounce from multi-week low – by hareshmenghani Gold Commodities Fed InterestRate XAUUSD
Read more »
Gold Price Forecast: XAU/USD sellers eye $1,915 and US inflation – Confluence DetectorGold Price Forecast: XAU/USD sellers eye $1,915 and US inflation – Confluence Detector – by anilpanchal7 Gold XAUUSD Confluences Inflation RiskAversion
Read more »
Gold Price Forecast: XAU/USD drops back closer to $1,930 level amid stronger US DollarGold price remains under selling pressure as it drops to a fresh daily low around $1,931 amid solid US economic data and a stronger US Dollar. The tightness in the labor market raises the odds of a soft landing for the US economy and supports the hawkish stance of the US central bank.
Read more »
Gold Forecast: Volatile Session as Jobs Reports DropsGold markets experienced a slight downturn during Friday\u0027s trading session as they rebounded from the bottom of the bullish flag pattern that has been around
Read more »
EUR/CZK: Koruna to regain lost ground over the coming months – CommerzbankThe Czech Koruna weakened sharply after the central bank formally ended its FX intervention framework. Economists at Commerzbank analyze CZK outlook.
Read more »