Forex. Gold exchange rate forecast for today
Now the banking metal is testing the levels of the beginning of last week. The news background brought sellers back, as the yield of 10-year US Treasury bonds returned to the level of 1.54%, which is 8 points below the highs of the beginning of the week. Today, gold will be sensitive to the publication of US industrial production, as well as to the report on the execution of the federal budget. The Treasury Department will publish the volume of purchases of long-term securities.
The main Wall Street indexes showed growth at the end of the week after the good financial results of Goldman Sachs. The strengthening of US retail sales boosted the optimism of the economic recovery. The banking index rose 0.8% following the rise in the yield of 10-year treasury bonds. Strong results from large financial companies have diverted attention from fears of a sharp rise in commodity prices and disruptions in supply chains.
A report from the US Department of Commerce pointed to an unexpected increase in retail sales in September, but there are still concerns that supply problems could disrupt the holiday shopping season amid continuing shortages of cars and other goods.