Forex. Gold exchange rate forecast for today.
The movement within the descending channel is visible. The first target in case of a wave of decline is the mid-March levels in the region of 1906 dollars per ounce.
The US stock market ended trading higher on Monday, due to the strengthening of the consumer goods, consumer services and technology sectors. At the close on the New York Stock Exchange, the Dow Jones rose 0.27%, reaching a one-month high, the S&P 500 index rose 0.71%. This time, gold was held in a negative way.
The news background provoked the activity of trading in financial markets. The weakening of the yen is due to the growing divergence of the policy of the Bank of Japan with other central banks.
The yield on ten-year Japanese government bonds rose to 0.25% on Monday, despite the fact that the Japanese Central Bank offered to buy bonds from investors in unlimited volume in order to contain the increase in yields. The Bank of Japan targets the yield of ten-year government bonds near zero, allowing fluctuations of up to 0.25 percentage points in one direction or another.
Meanwhile, there are risks of a decline in the global economy. The acceleration of inflation in the UK will hit consumer spending and slow down the country's economic growth this year to 3.5%, according to a press release from the international rating agency S&P Global Ratings.