Gold Prices Slip On Stronger Dollar

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1. Gold Prices Slip On Stronger Dollar
Gold prices slipped to their lowest level in nearly two weeks on Monday morning as the dollar continued to rise on the back of climbing U.S. Treasury yields. Yields on benchmark 10-year Treasuries climbed to their highest level since Jan, 2014 last Friday causing the greenback to rally and the dollar denominated metal to plummet. Specifically, Spot gold (XAUUSD) was down 0.1 percent at $1,337.71 per ounce as of 06:45 GMT, after touching its lowest since April 10 at $1,331.70 in early morning hours.*

2. US Dollar At 2-Week Highs
The US dollar is higher across the charts after geopolitical tensions eased and as Fed speakers signaled more rate hikes. Specifically, Fed’s Loretta Mester hinted to more rate hikes in 2018 in contrast with some rather dovish comments from the European Central Bank (ECB) and Bank of England (BoE) officials who put downward pressure on their respective currencies. The promises for more rate hikes in the U.S. and a sharp rise in U.S. bond yields helped push the greenback higher. The U.S. dollar traded near a two-week high against a basket of major currencies on Monday.**

3. ECB Caution Could Depreciate EUR
The EUR/USD lost 0.3 percent during the past week as investors now turn to Thursday’s ECB meeting for direction. The ECB is expected to keep rates and quantitative easing unchanged on Thursday. A continued dovish rhetoric from the ECB could cause further depreciation for the EUR which is currently a no match against the US dollar that’s rallying on optimism spread by U.S. Federal Reserve officials. Don’t forget to join our free live ECB webinar and get a live analysis on the markets, click on the banner on the top of the page to sign up!***

You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.

*Source: CNBC

**Source: Investing

***Source: Reuters

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