The price of
gold (XAU/USD) has continued its winning streak for the seventh consecutive
trading session on Thursday, reaching new record highs around $2,160, supported
by several positive factors. Expectations of a forthcoming rate cut decision by
the Federal Reserve in the June monetary policy meeting have bolstered the
attractiveness of gold.
Furthermore, a notable decrease in US Treasury yields
has diminished the opportunity cost associated with holding non-yielding assets
like gold.
Although 10-year US Treasury yields have seen a slight uptick of
0.2% during Thursday's European session, they have significantly decreased over
the past two trading sessions. It is expected that to increase in the next 8
months.
