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Gold sticks to its price, for how long? Here is a full reading of gold at the end of the year
Gold prices remained solid on Thursday, holding on to the level of $ 1,480, despite the subdued performance of other safe-haven assets and treasury bonds.
So the 10-year Treasury yield reached 1.94%, only 3 basis points below the highest figure recorded since Trump took the escalation of the trade war against China last July.
And gold prices stopped at $ 1,480.10 an ounce, up 0.1% for the day, while gold in spot transactions rose 0.1%, to $ 1,476.33 an ounce.
Silver futures rose again, to $ 17.07 an ounce, while platinum contracts rose 0.2% to $ 938.05.
Despite the brutal killer week of Safe Haven assets, gold futures are still 3% higher, but that is not a return by the desired strength, given the Federal Reserve cut its interest rate 3 times this year, bringing the total cuts to 75 basis points.
The CFTC figures show that long positions of traders have been stagnant since August, and this has been accompanied by a decline in central bank purchases of gold. And with the workers meeting, it was difficult for the yellow metal to rise with a strength similar to that of the first half of the year.
Sunshine Profits analyst, Przimislav Radomsky, says that gold reached its record high (in terms of the euro, not the dollar) last September, and has since failed to hold on to those profits, and this does not bode well for the coming months.
