Forex. Gold exchange rate forecast for today
The news background contributes to growth, as the yield of 10-year US Treasury bonds moved away from the October peak on Thursday. According to market expectations, the US Federal Reserve System (FRS) will announce the beginning of the curtailment of the stimulus program next month.
We note that the increase in profitability is a negative factor for gold, but at the same time, the growing inflationary pressure along with the rising price of oil stimulate demand for the metal. Global market signals indicate a multitude of problems, ranging from the spread of the COVID-19 delta strain, disruptions in global supply chains, the upcoming tightening of monetary policy of states, and a slowdown in the pace of economic recovery. The crisis in the real estate sector in China, related to the debt problems of one of the country's largest developers, China Evergrande Group, adds to the concern, which has been periodically pushing the markets down lately.
Traders continue to monitor corporate reports of companies. The Stoxx Europe 600 composite index of the largest enterprises in the region fell 0.2% to 469 points.