XAUUSD Prices Fall As The US Dollar Rebounds, Inflationary Pressures Driving Cotton Demand Down, NGAS Price Rising

Summary:

The US Dollar’s rebound and stronger treasury yields have caused the price of gold to fall.
Cotton prices are falling due to decreasing demand and improved supplies.
NGAS on the rise again.

XAUUSD price coming down off its recent recovery

Gold prices began to rise late last week and on Monday, however, on Tuesday Gold prices fell in the wake of the US Dollar rebounding and stronger US Treasury yields. Gold has recovered some of the losses it faced earlier on in May due to the surging US Dollar. Concerns around a global recession and the chance of the Fed slowing or even stopping tightening monetary policy later on in the year has offered the precious metal some support.

XAUUSD Prices Fall As The US Dollar Rebounds, Inflationary Pressures Driving Cotton Demand Down, NGAS Price Rising - 1 Gold Aug ‘22 Futures Price Chart

Cotton prices falling due to lessening supply concerns

Cotton prices are trading around 10% less than their May high, this is due to the prospect of higher supplies thanks to favourable weather in the largest growing regions. More than half of the crop had been planted by May 22nd and was ahead of schedule by this time, therefore offering hope for solid yields. In conjunction, demand for cotton seems to be weakening amidst inflationary pressures.

XAUUSD Prices Fall As The US Dollar Rebounds, Inflationary Pressures Driving Cotton Demand Down, NGAS Price Rising - 2 Cotton Jul’22 Futures Price Chart

Natural Gas Futures prices

Natural Gas prices continue to rise, reaching closer to the peak hit last week. The near 14 year high for Natural Gas came with increased demand and concerns around supply, the price fluctuations are due to decreased demand as the weather changes, robust demand and slow output.

XAUUSD Prices Fall As The US Dollar Rebounds, Inflationary Pressures Driving Cotton Demand Down, NGAS Price Rising - 3 NGAS Jul ‘22 Futures Price Chart