Gold Price Forecast: XAU/USD prints mild losses around $1,930 even as yields flag recession risk By anilpanchal7 Gold XAUUSD YieldCurve RiskAppetite Ukraine
ing Tuesday’s Asian session. The yellow metal offered an upbeat start to the week but buyers failed to keep the reins as the US Treasury yields rallied to a fresh multi-month high amid hopes of faster rate hikes by the US Federal Reserve , as well as looming economic recession.
US 10-year Treasury yields rise to a fresh high since May 2019 while taking the bids near 2.328% level by the press time as market’s fears of inflation magnify, pushing the Fed policymakers towards aggression in tightening monetary policies going forward. On Monday, Atlanta Fed President Bostic and Richmond Fed’s Barkin promoted the US central bank’s ability to restrain inflation by indirectly signaling a faster pace of the rate hike. However, the comments from Fed Chairwho said, “The Fed will raise rates by more than 25bps at a meeting or meetings if necessary,” offered a major upside momentum to the T-bond coupons.
“Sharp moves in the US Treasury market are increasingly pointing to the risk of an approaching recession, with "bond vigilantes coming out of the woodwork" and markets doubting the U.S. Federal Reserve's plan to engineer a "soft landing" for the economy as it hikes interest rates to fight inflation, market experts said,” mentioned Reuters.
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