Gold Rally Loses Steam As Treasury Yields Stabilize, Dollar Rebounds: 6 Miner Stocks See Declines On Wednesday
Gold Rally Loses Steam As Treasury Yields Stabilize, Dollar Rebounds: 6 Miner Stocks See Declines On Wednesday
Rate-cut expectations have not seen significant improvement, with The momentum in gold's recent rally has lost much of its shine, with the precious metal unable to reach new record highs since Aug. 20, as U.S. Treasury yields stabilize and the dollar rebounds.
黄金最近的上涨势头已经失去了很多光彩，由于美国国债收益率稳定和美元反弹，这种贵金属自8月20日以来无法达到新的纪录高点。
On Wednesday, gold traded at $2,505 per ounce, down 0.8% for the day, poised to break a three-session winning streak.
周三，黄金交易在每盎司2505美元，下跌了0.8％，有望打破为期三个交易日的连胜。
The dollar's recent surge, driven by positive catalysts, appears to be fading, prompting traders to take profits and reduce exposure to gold.
由于积极因素推动的美元最近的上涨势头似乎在减弱，导致交易员获利并减少对黄金的敞口。
Rate-cut expectations have not seen significant improvement, with speculators fully pricing in a September rate cut but assigning a 65% probability to a smaller 25-basis-point reduction, compared to 35% for a 50-basis-point cut, according to the CME FedWatch tool.
根据CME FedWatch工具的数据，削减利率的预期没有得到显着改善，投机者已完全将九月的利率削减纳入价格，但对于较小的25个基点减少的概率分配为65％，而50个基点减少的概率为35％。
As the Federal Reserve's rate cut expectations remained largely unchanged, Treasury yields stabilized, with the 10-year yield trading at 3.83% on Wednesday. Despite falling 67 basis points since early July, the yield hasn't dropped below 3.75% since earlier this month, when a volatility event caused wild swings in equity and fixed income markets.
由于美联储的降息预期基本没有改变，美国国债收益率稳定，在周三交易时为3.83％。尽管自7月初以来下降了67个基点，但这个收益率自本月初以来还没有跌破3.75％，当时的市场波动事件导致股票和固收市场剧烈波动。
Geopolitical tensions in the Middle East, which have historically boosted safe-haven assets like gold, did not escalate into a broader conflict after recent exchanges between Israel and Hezbollah. This de-escalation has further diminished gold's appeal.
中东地区的地缘政治紧张局势通常会提振黄金等避险资产，但最近以色列和真主党之间的互动并未升级为更广泛的冲突。这种降级进一步削弱了黄金的吸引力。
The U.S. dollar index (DXY) was up 0.4% Wednesday, after closing Tuesday at the lowest levels since July 2023.
美元指数（DXY）在周三上涨了0.4％，此前已创下自2023年7月以来的最低水平。
Wednesday's Pullbacks In Gold Mining Stocks
黄金股周三的回调
The dip in gold prices has led to a more significant decline in gold mining stocks. The VanEck Gold Miners ETF (NYSE:GDX) and the VanEck Junior Gold Miners ETF (NYSE:GDXJ) both fell by 2.5%.
黄金价格下跌导致黄金矿业股票出现更显著的下降。VanEck黄金矿业etf（纽交所：GDX）和VanEck小型黄金矿业etf（纽交所：GDXJ）均下跌了2.5%。
| Company | 1-day return (%) |
| Torex Gold Resources Inc. (NYSE:TXG) | -4.89% |
| Endeavour Silver Corp. (NYSE:EXK) | -4.75 |
| First Majestic Silver Corp. (NYSE:AG) | -4.63 |
| Coeur Mining, Inc. (NYSE:CDE) | -4.56 |
| OceanaGold Corporation (NYSE:OGC) | -4.47 |
| Pan American Silver Corp. (NYSE:PAAS) | -4.41 |
| 公司 | 一日回报率（%） |
| Torex黄金资源股份有限公司（纽交所：TXG） | -4.89% |
| Endeavour白银公司（纽交所：EXK） | |
| 第一银牛股份有限公司（NYSE：AG） | -4.63 |
| Coeur Mining, Inc. (NYSE:CDE) | -4.56 |
| OceanaGold Corporation (纽交所: OGC) | -4.47 |
| Pan American Silver Corp. (纽交所: paas-云计算) | -4.41 |
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图像由Midjourney通过人工智能创建。