News

The yield on the two-year German Bund fell by 2.1 basis points to 2.547%, up a total of 13.8 basis points for the week, with trading overall between the 2.437% and 2.617% range, continuing its upward trend. The yield on the 30-year German Bund fell by 0.7 basis points to 3.524%, down 1.8 basis points for the week. The yield spread between the 2-year and 10-year German Bunds increased by 0.602 basis points to +44.461 basis points, down a total of 10.364 basis points for the week, with an overall trading range of +53.433 to +37.261 basis points.

On April 25, in the first quarter of this year, the Azerbaijan State Oil Fund sold approximately 22 tons of gold. This sale was prompted by record-high gold prices, which pushed the sovereign wealth fund's gold allocation to its maximum limit. According to the fund's quarterly report, the sold gold reserves are valued at over $3 billion at current prices, marking the first reduction in gold reserves since the fund began purchasing gold in 2012.

The US Department of Justice has terminated its investigation into outgoing Federal Reserve Chair Jerome Powell, prompting both gold and silver futures prices to rise. This announcement paved the way for Kevin Warsh to succeed Powell, igniting some market optimism that interest rates may be lowered earlier than expected. According to a report from ING's Economic Research Department released in the early session today, even if the investigation into Powell had continued, the market had already leaned toward expecting a modest rate cut by the end of the year. The most actively traded gold futures price rose by 0.5% to $4,748 per ounce, while silver prices climbed by 1.4%, reaching $76.54 per ounce.