🥇 GOLD IS GETTING HIT BY STRONGER U.S. DATA. 🇺🇸📉
Gold is struggling below $4,300 as stronger-than-expected U.S. economic data pushes traders to price in more Fed rate hikes. 👀
U.S. business activity just posted its strongest growth in more than five years.
Sounds bullish for the economy.
But for gold?
That’s a different story. ⚠️
Higher rates + higher Treasury yields + a stronger dollar make a non-yielding asset like gold less attractive.
And traders are now betting on another Fed hike in October. 🏦
The interesting part:
The stronger the U.S. economy looks, the more pressure gold could face from monetary policy.
$XAUT $USDC #Gold #Fed #markets
Gold is struggling below $4,300 as stronger-than-expected U.S. economic data pushes traders to price in more Fed rate hikes. 👀
U.S. business activity just posted its strongest growth in more than five years.
Sounds bullish for the economy.
But for gold?
That’s a different story. ⚠️
Higher rates + higher Treasury yields + a stronger dollar make a non-yielding asset like gold less attractive.
And traders are now betting on another Fed hike in October. 🏦
The interesting part:
The stronger the U.S. economy looks, the more pressure gold could face from monetary policy.
$XAUT $USDC #Gold #Fed #markets
