World gold continues to plummet
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Gold continues to maintain its record low today. The price of gold globally fluctuated between 1,820 and 1,830 USD/ounce last night. As of 6 a.m. on October 4th, the current price of gold is trading at 1,824 USD/ounce, which is a slight decrease of 3 USD compared to the previous day's price of 1,827 USD/ounce.
According to the Federal Reserve (FED), inflation remains too high and interest rates need to be increased in order to control commodity price pressures. Consequently, the yield on US Treasury bonds with a maturity period of ten years surged to 4.75 points, leading to a strong influx of capital into bonds and adding further downward pressure on gold prices today as they continue their plunge into depths.
Gold continues to maintain its record low today. The price of gold globally fluctuated between 1,820 and 1,830 USD/ounce last night. As of 6 a.m. on October 4th, the current price of gold is trading at 1,824 USD/ounce, which is a slight decrease of 3 USD compared to the previous day's price of 1,827 USD/ounce.
According to the Federal Reserve (FED), inflation remains too high and interest rates need to be increased in order to control commodity price pressures. Consequently, the yield on US Treasury bonds with a maturity period of ten years surged to 4.75 points, leading to a strong influx of capital into bonds and adding further downward pressure on gold prices today as they continue their plunge into depths.
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