Gold prices break $2,000 amid geopolitical tensions and FOMC anticipation By Investing.com

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Gold prices break $2,000 amid geopolitical tensions and FOMC anticipation

Published Oct 30, 2023 02:30AM ET

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Gold prices break $2,000 amid geopolitical tensions and FOMC anticipation

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Gold prices have surpassed the $2,000 mark, driven by increased demand for safe-haven assets amid escalating geopolitical tensions in the Middle East and ahead of the Federal Open Market Committee (FOMC) meeting. This development comes as US Treasury yields have retreated from recent peaks but remain elevated, with the 10-year bond yield reaching a level not seen since 2007 at 5.02%.

The surge in US government debt returns has bolstered the strength of the US Dollar, resulting in an appreciation of both USD and gold. Gold, however, which does not bear interest, typically experiences selling pressure when the US Dollar and Treasury yields rise.

Despite these factors and US real yields hitting a 15-year high of over 2.60%, gold prices have shown resilience. The precious metal continues to hold its ground, demonstrating its value in times of uncertainty and market volatility.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Comments (1)

Shafaat Awan Oct 31, 2023 1:03PM ET

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Gold price will be high in next 24 hours

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US 30	44,437.5	-127.8	-0.29%
US 500	6,109.0	-9.7	-0.16%
Dow Jones	44,565.07	+408.34	+0.92%
S&P 500	6,118.71	-0.01	0.00%
Nasdaq	20,053.68	+44.34	+0.22%
S&P 500 VIX	15.08	+0.06	+0.40%
Dollar Index	107.535	-0.328	-0.30%

Crude Oil WTI	75.08	+0.46	+0.62%
Brent Oil	78.82	+0.53	+0.68%
Natural Gas	3.818	-0.127	-3.22%
Gold	2,789.09	+24.09	+0.87%
Silver	31.453	+0.611	+1.98%
Copper	4.3558	+0.0273	+0.63%
US Soybeans	1,048.12	-16.88	-1.58%

U.S. 10Y	4.646	+0.009	+0.19%
U.S. 30Y	4.877	+0.008	+0.16%
U.S. 5Y	4.449	+0.007	+0.16%
U.S. 3M	4.318	-0.006	-0.14%
US 10Y T-Note	108.34	-0.03	-0.03%
Euro Bund	131.19	-0.37	-0.28%
10-2 Yield Spread	30.91	+1.30	+4.39%

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Alphabet A	197.98	-0.39	-0.20%
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Amazon.com	235.42	+0.41	+0.17%
Netflix	984.86	+30.87	+3.24%
Meta Platforms	636.45	+12.95	+2.08%
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Gold prices break $2,000 amid geopolitical tensions and FOMC anticipation

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