Gold slides to two-month low as robust dollar, yields add pressure
7 Articles
7 Articles
The prices of future gold contracts ended the day in decline, pressed by the appreciation of the dollar and by the advance of Treasury revenues, with the rate of long interest in the United States renewing maximums in 24 years in the face of high inflationary risks. In Comex, the metal division of the New York Mercantile Exchange (Nymex), the gold with delivery scheduled for October closed in fall of 1.09%, to US$ 4,113.80 per ounce-troy. The pr…
Gold prices drop over 2%, slide to 2-month low as Treasury yields, US dollar climb
Gold prices fell 2.3% to $4,066 per ounce, marking a two-month low. Rising Treasury yields and a strong US dollar contributed to this decline. Investors await the FOMC minutes for insights on Fed policy amid inflation concerns and potential rate hikes.
The Economic Times
Times of IndiaGold slides to two-month low as robust dollar, yields add pressure
Gold prices have fallen to a two-month low due to a strong US dollar and rising Treasury yields. Spot gold dropped 1.6% to $4,096.13 per ounce, while silver also faced significant declines. The Federal Reserve's policy decisions are anticipated to influence future interest rate hikes, affecting gold's appeal. China's central bank continued its long-term gold purchasing trend, contributing to market dynamics.
The most liquid gold contract closed in fall of more than 1% on Wednesday (7), impacted by the strengthening of the US dollar and advance in the interest of the Treasures. At Comex, metal division of the New York Stock Exchange (Nymex), the gold for December closed in fall of 1.11%, to US$ 4,140.70 per ounce-troy. The silver [...]
Silver lost 2.8% to $59.96 an ounce, platinum weakened 3.5% to $1,641.45 and palladium slipped 4.2% to $1,123.23.
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