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Commodity News Today Live Updates: Gold Prices Today: Yellow metal hits record-high at $2645/oz on US Fed rate cut, MCX above ₹74,900/10 gms
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Commodity News Today Live Updates: US Fed pivot in focus: Why are gold prices following US Treasury yield? — Explained
- Gold prices often follow a negative relationship with US yield
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### Insight on Gold Prices
The surge in gold prices to a record-high of $2645/oz can be attributed to the US Federal Reserve’s decision to cut interest rates. Investors often turn to gold as a safe haven asset in times of economic uncertainty and lower interest rates, leading to an increase in demand and subsequently higher prices. The MCX price of gold also reflects this trend, surpassing ₹74,900/10 gms.
### Relationship Between Gold Prices and US Treasury Yield
Gold prices have historically shown an inverse correlation with US Treasury yields. When bond yields fall, the opportunity cost of holding non-yielding assets like gold decreases, making the precious metal more attractive to investors. This relationship explains why gold prices tend to rise following a decline in US Treasury yields.
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