World gold prices increased sharply due to support from the decline in the price of the USD and falling US Treasury bond yields. The Dollar Index has dropped nearly 2.9% in the past 3 months, while the 10-year US Treasury bond yield has decreased about 1.1% compared to the end of October. At the same time, bond yields and USD prices decreased, providing a "dual" support for gold prices. Last week, the US Federal Reserve (Fed) signaled it was about to reduce interest rates. Fed officials expect three interest rate cuts of 0.25% each in 2024.
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