Those who have gold in America will not be able to sleep
Gold prices in the United States today 24 agust 2023
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Gold Price Steadies Despite Treasury Yields and US Real Yields Rising. Lower XAU/USD?
Gold, XAU/USD, Fed, Treasury Yields, Breakeven Inflation, Real Yields - Talking Points
The gold price has found firmer footing ahead of the Fed’s meeting this week
Treasury yields are on the march higher as selling in debt markets continues
Vigorous US real yields might be ominous. Will they drive XAU/USD under support?
How to Trade Gold
The gold price is oscillating around US$ 1,900 in the spot market going into Wednesday’s trading session as markets lie in wait for the Federal Reserve’s Jackson Hole economic symposium to get underway on Thursday.
The precious metal has held up reasonably well considering the recent surge in Treasury yields. Yesterday, the benchmark 10-year note traded at its highest yield since 2007, eclipsing 4.36% after dipping to 3.57% in June.
Perhaps of more concern for gold bulls is the uptick in US real yields. The real yield is the nominal yield less the market-priced inflation rate derived from Treasury inflation-protected securities (TIPS) for the same tenor. This inflation rate is known as the breakeven inflation rate.
The breakeven rate has been relatively stable over the past month, and this has allowed the real yield to climb. This has potentially undermined the gold price as it does not offer investors and traders a return. In fact, there is a cost of carry for holding the yellow metal.
This brings the focus on nominal Treasury yields into focus and the outcome from Jackson Hole might be crucial for the gold price going forward.
Looking ahead for this week, while there be many Fed speakers will be crossing the wires once the symposium gets underway on Thursday. However, the markets are likely to be more finely tuned to Fed Chair Jerome Powell’s speech on Friday.
SPOT GOLD AGAINST NOMINAL US 10-YEAR TREASURY YIELD, US 10-YEAR BREAKEVEN INFLATION AND US 10-YEAR REAL YIELD
24k
Ounce
USD
$1.00 = $1.00
$1,919.65
Thursday, 24 August 2023 live
To change:
-$0.74 (-0.04%)
open:
$1,920.38
High:
$1,921.73
low:
$1,919.53
The current price of gold in the United States is 1,919.65 USD per ounce. The gram price of gold is 61.72 US dollars. The highest price of gold today is USD 1,921.73 and the lowest price is USD 1,919.53.
Gold US dollar today exchange
24k 1gram $61.72 -$0.02
22k 1gram $56.57 -$0.02
21k 1gram $54.00 -$0.02
18k 1gram $46.29 -$0.02
14k 1gram $36.00 -$0.01
10k 1gram $25.72 -$0.01
one ounce $1,919.65 -$0.74
Tola $719.87 -$0.28
100 grams $6,171.80 -$2.37
Kilogram $61,718.02 -$23.71