$XAU Gold is under strong pressure today. Spot gold fell below $4,200/oz, reaching its lowest level since August 5.
VT Markets +1$XAU
Main driver: Higher U.S. Treasury yields and a stronger dollar are reducing demand for non-yielding gold.
Forex.com +1
Fed expectations: Markets are pricing in a significant chance of another U.S. rate hike in October, adding pressure to gold.
mint +1
Oil/geopolitics: Higher oil prices following renewed uncertainty around the Strait of Hormuz are increasing inflation concerns, which can reinforce expectations for tighter monetary policy.
mint
Pakistan: Gold fell to about Rs438,136 per tola, down Rs12,800 today, according to rates reported from the All-Pakistan Gems and Jewellers Sarafa Association.
Business Recorder
Latest spot reference: Kitco showed gold around $4,169.50/oz, down about 2.68% at its September 28 update. $XAU #ChinaMayLetAlibabaByteDanceBuyNvidiaChips #FedProposesPaymentStablecoinRules #BitgetDetailsSecurityIncidentTimeline #KospiFalls2.7%SamsungSKHynixDropOver5% #QNTFallsOver40%FromMorningHigh
VT Markets +1$XAU
Main driver: Higher U.S. Treasury yields and a stronger dollar are reducing demand for non-yielding gold.
Forex.com +1
Fed expectations: Markets are pricing in a significant chance of another U.S. rate hike in October, adding pressure to gold.
mint +1
Oil/geopolitics: Higher oil prices following renewed uncertainty around the Strait of Hormuz are increasing inflation concerns, which can reinforce expectations for tighter monetary policy.
mint
Pakistan: Gold fell to about Rs438,136 per tola, down Rs12,800 today, according to rates reported from the All-Pakistan Gems and Jewellers Sarafa Association.
Business Recorder
Latest spot reference: Kitco showed gold around $4,169.50/oz, down about 2.68% at its September 28 update. $XAU #ChinaMayLetAlibabaByteDanceBuyNvidiaChips #FedProposesPaymentStablecoinRules #BitgetDetailsSecurityIncidentTimeline #KospiFalls2.7%SamsungSKHynixDropOver5% #QNTFallsOver40%FromMorningHigh