Gold futures fell as U.S. Treasury yields continued to rise. This trend was also reflected in the futures contracts for silver and platinum for December and January delivery, both of which saw price declines.
Federal Reserve Governor Lael Brainard, during a speech at Duke University on Tuesday, highlighted the resilience of the banking sector in the aftermath of earlier bank failures. She also emphasized the potential risks posed by the lack of clear liquidity mismatches in non-bank financial institutions amid financial tightening and economic activity slowdown.
Market participants closely monitor statements from Federal Reserve officials, including a speech by Jerome Powell on Thursday, to gain insights into possible interest rate cuts in the United States. Despite the anticipation, traders expect stable interest rates at the next Federal Open Market Committee meeting in December.
Consensus among traders suggests that despite previous bank failures, the banking sector has stabilized, and this stability is expected to influence the Federal Reserve’s decision to maintain current interest rates at the December meeting. Market focus remains on upcoming speeches from Federal Reserve officials for further signals regarding U.S. interest rate policy.
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Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.
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