The yellow metal is trading on highs with the beginning of the trading session of the European session today, Monday, July 26 (July), by about 0.32%, and trading at levels of 1807 dollars per ounce, benefiting from the decline of the US dollar by about 0.15%, amid anticipation in the markets for the US Federal Reserve meeting next Wednesday.
Markets are awaiting the US Federal Reserve’s comment on the inflation hikes in June, which recorded the highest reading since June 2008 at 0.9%, compared to the May reading of 0.6%, as expectations indicate that the US Federal Reserve will keep its monetary policy and interest rates unchanged at this week’s meeting, but any indications of a cut date The bank’s purchases of assets amounting to 120 billion dollars per month may support the gains of the US dollar, and therefore we will witness strong declines in the yellow metal.
On the other hand, the yields on US Treasury bonds have been declining since the beginning of the session on Monday, as the yield on the US 10-year bonds fell by 3.80% at 1.236 after increases recorded last week.
Silver is trading at $25.23 per ounce, up by 0.28%, after tumbling more than 1.5% last week.
Platinum is trading at 1.062 dollars, up by 0.12%, while palladium is trading down by 0.35% at 2.663 dollars.