Commodities

Gold futures decline amid rising U.S. Treasury yields and stable banking sector

1 Mins read

on the COMEX division saw a 0.53 percent drop, settling the most active December contract at $1,988.60 per ounce, as U.S. Treasury yields continue to climb. This trend was mirrored in silver and for December and January delivery respectively, experiencing downturns in their prices.

The financial market is closely watching speeches from Federal Reserve officials, including a Thursday speech by Chairman Jerome Powell, seeking insights into potential U.S rate cuts. Despite the anticipation, traders are predicting steady rates at the upcoming December Federal Open Market Committee meeting.

Federal Reserve Governor Lisa Cook, during a speech at Duke University on Tuesday, acknowledged the resilience of the banking sector following earlier bank failures. She also highlighted potential risks posed by pronounced liquidity mismatches in nonbank financial institutions amidst tightening financial conditions and decelerating economic activity.

The consensus among traders suggests that despite earlier bank failures, the banking sector has now stabilized. This stability is expected to influence the Federal Reserve’s decision to maintain current rates at the December meeting. The market’s attention remains fixed on the upcoming speeches from Federal Reserve officials for further cues on U.S rate policy.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Read the full article here

Related posts
Commodities

US court rejects EPA's decision to withhold small refinery biofuel waivers

1 Mins read
WASHINGTON (Reuters) – A U.S. appeals court on Wednesday said it struck down the Biden administration’s decision to deny small refiners “hardship…
Commodities

Gold prices near $2,000 as USD stalls on Fed rate hike pause expectations

1 Mins read
Gold prices demonstrated resilience in Asian markets today, recovering from recent declines and approaching monthly peak levels despite lower trading volumes due…
Commodities

WTI crude wavers as OPEC+ postpones meeting amid market concerns

1 Mins read
The global oil market is facing uncertainty as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) postponed their production-cut…
Get The Latest News

Subscribe to get the top fintech and
finance news and updates.

Leave a Reply

Your email address will not be published. Required fields are marked *