Urgent$XAU : Gold Takes a 2% Hit After Comments from the US Fed Chair
Gold plummeted sharply by over 2% during the press conference of the new Fed Chair, Kevin Warsh, who signaled a hawkish stance and expressed dissatisfaction with market movements and their reactions to the Fed's monetary policy, disregarding economic data.
Gold is now down more than 2%, falling to $4240 an ounce, while silver contracts dropped by 2.8% to $68 an ounce. Meanwhile, the US Dollar Index climbed by 0.87%, surpassing the 100 mark against a basket of foreign currencies.
Short-term US Treasury yields rose collectively following the Fed's statement and the Chair's conference, with 2-year yields jumping by 3.39% to 4.184%, and 10-year yields up by 1.06% to 4.468%.#WarshFirstFOMCRatesHold #UNISurges20% #WarshHiresConservativeAdvisersAmidFedOverhaul #XiaohongshuHKIPOValuationAbove$70B #TankersUTurnOnPossibleHormuzReopening
Gold plummeted sharply by over 2% during the press conference of the new Fed Chair, Kevin Warsh, who signaled a hawkish stance and expressed dissatisfaction with market movements and their reactions to the Fed's monetary policy, disregarding economic data.
Gold is now down more than 2%, falling to $4240 an ounce, while silver contracts dropped by 2.8% to $68 an ounce. Meanwhile, the US Dollar Index climbed by 0.87%, surpassing the 100 mark against a basket of foreign currencies.
Short-term US Treasury yields rose collectively following the Fed's statement and the Chair's conference, with 2-year yields jumping by 3.39% to 4.184%, and 10-year yields up by 1.06% to 4.468%.#WarshFirstFOMCRatesHold #UNISurges20% #WarshHiresConservativeAdvisersAmidFedOverhaul #XiaohongshuHKIPOValuationAbove$70B #TankersUTurnOnPossibleHormuzReopening
