GOLD - Gold continues to rise despite news from the market

The world's gold price today, December 15, has not stopped rising because the value of the USD continues to weaken and US bond interest rates fall sharply.

Gold prices today continue to increase in the context of the Bank of England not changing its tightening monetary policy. The European Central Bank (ECB) kept the base interest rate unchanged at 4%. At the same time, the ECB believes that this interest rate will be strong enough to bring inflation in the EU to the 2% target.

Accordingly, the British Pound and Euro increased in value compared to the USD. On the other hand, the USD continues to decrease in price compared to many other foreign currencies after the US is expected to have three interest rate cuts in 2024. Today's gold price has conditions to go up.

Meanwhile, US 10-year bond interest rates dropped sharply to 3.8%/year. This factor has prompted cash flow to shift from bonds to precious metals. Gold prices today have more strength to increase.

With the above developments, the business world is confident that the gold market will still heat up. From there, they increase their purchasing power. The world gold price last night reached 2,047 USD/ounce at 11 p.m. on December 14.