Overnight Market Review (2022.6.1) On Tuesday, the Fed’s Bostic said it would not “save the market”, US stocks fell, US bond yields and the US dollar rebounded, and gold and oil prices fell.
Global Gold Markets: Gold prices fell on Tuesday, weighed down by a stronger dollar. Gold futures were down 0.5% at $1,848.4 an ounce.
Gold futures fell in midday Asian trading on Wednesday, as U.S. bond yields rose and the dollar strengthened. In the previous trading day, the price of gold fell by about 1%, and fell by 3.66% in May, the monthly decline for two consecutive months.
On Tuesday, U.S. President Joe Biden met with Federal Reserve Chairman Jerome Powell to discuss inflation. Biden stressed that he respects the independence of the Federal Reserve, but also affirmed that he is “highly focused on addressing inflation” ahead of the November midterm elections.
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