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The rebound in U.S. real yields, coupled with the recent recovery of the U.S. dollar, is likely to act as a bearish catalyst for gold prices in the near term.
Oil prices slumped this week as rising rates raised fears of an economic downturn. China’s slow fuel demand recovery following the reopening of its economy also weighed on sentiment.
The S&P 500 has lacked strong directional conviction in recent days after the powerful rally earlier in the year, but the balance of risks appears to be tipping to the downside.
After receiving signals of higher interest rates hike by Federal Reserve, Asian shares traded lower.Equities fell in Australia and South Korea and fluctuated in Japan