Gold Prices Rebound Amid Interest Rate Hike and Slumping Yields

The price of Gold Futures (DEC6) has turned higher as yields and oil prices decline. On September 17, the Dow fell over 1%, while the Nasdaq turned negative after the Federal Reserve raised interest rates. The Fed also sees one more hike before the end of the year amid elevated inflation.

JPMorgan says Bitcoin could outperform gold if ETF hedging demand eases. However, some are skeptical of this prediction, citing 'algorithmic pump' and relying on physical fundamentals rather than electronic market manipulation.