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.
黃金最近的上漲勢頭已經失去了很多光彩，由於美國國債收益率穩定和美元反彈，這種貴金屬自8月20日以來無法達到新的紀錄高點。
On Wednesday, gold traded at $2,505 per ounce, down 0.8% for the day, poised to break a three-session winning streak.
週三，黃金交易在每盎司2505美元，下跌了0.8％，有望打破爲期三個交易日的連勝。
The dollar's recent surge, driven by positive catalysts, appears to be fading, prompting traders to take profits and reduce exposure to gold.
由於積極因素推動的美元最近的上漲勢頭似乎在減弱，導致交易員獲利並減少對黃金的敞口。
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.
根據CME FedWatch工具的數據，削減利率的預期沒有得到顯着改善，投機者已完全將九月的利率削減納入價格，但對於較小的25個點子減少的概率分配爲65％，而50個點子減少的概率爲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.
由於聯儲局的減息預期基本沒有改變，美國國債收益率穩定，在週三交易時爲3.83％。儘管自7月初以來下降了67個點子，但這個收益率自本月初以來還沒有跌破3.75％，當時的市場波動事件導致股票和固收市場劇烈波動。
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.
中東地區的地緣政治緊張局勢通常會提振黃金等避險資產，但最近以色列和真主黨之間的互動並未升級爲更廣泛的衝突。這種降級進一步削弱了黃金的吸引力。
The U.S. dollar index (DXY) was up 0.4% Wednesday, after closing Tuesday at the lowest levels since July 2023.
美元指數（DXY）在週三上漲了0.4％，此前已創下自2023年7月以來的最低水平。
Wednesday's Pullbacks In Gold Mining Stocks
黃金股週三的回調
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%.
黃金價格下跌導致黃金礦業股票出現更顯著的下降。VanEck黃金礦業etf（紐交所：GDX）和VanEck小型黃金礦業etf（紐交所：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 | 一日回報率（%） |
| Torex黃金資源股份有限公司（紐交所：TXG） | -4.89% |
| Endeavour白銀公司（紐交所：EXK） | |
| 第一銀牛股份有限公司（NYSE：AG） | -4.63 |
| Coeur Mining, Inc. (NYSE:CDE) | -4.56 |
| OceanaGold Corporation (紐交所: OGC) | -4.47 |
| Pan American Silver Corp. (紐交所: paas-雲計算) | -4.41 |
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