Gold: Declining risk aversion weighs heavily on the market

The record ride in US equity markets has led to a slight slowdown in interest in gold. The yellow precious metal is currently trading below 1,500 dollars again.

However, the gold price was also burdened by the significant rise in US yields. Bonds with a ten-year maturity now offer yields of 1.85 percent, after a low of 1.74 percent registered in the previous week. The prospect of the next US interest rate cut was pushed into the background. At the Fed meeting scheduled for tomorrow, the majority of analysts expect a reduction of 25 basis points. The FedWatch tool of the futures exchange operator CME Group currently displays a probability of over 95 percent for this scenario. In the coming days, however, important economic data on US economic growth and the labor market will also be available for publication. This would definitely increase tension.

On Tuesday morning the gold price presented itself with stable quotations. The most actively traded future on gold (December) fell by 1.10 to 1,494.70 dollars per troy ounce until around 8.10 a.m. (CEST).


Crude Oil: Waiting for API Weekly Report

In the run-up to the forthcoming weekly reports on the oil quantities stored in the USA, the fossil fuel is tending towards somewhat lower price regions. After the close of the US market, the update by the American Petroleum Institute should attract more attention (10.45 p.m.). According to a survey among analysts conducted by the Reuters news agency, there is said to have been a stock increase of 700,000 barrels. The development of future oil demand is also causing uncertainty on the oil markets.