Tuesday, July 16, 2024

Gold is declining as yields in US treasuries increase


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Gold prices fell on Friday on increased yields on US Treasury bonds and are heading for a three-week first week low.

00:49 At GMT, gold was down 0.1 percent at spot trading at $ 1950.01 an ounce. US gold futures rose 0.2 percent to $ 1,952 an ounce.

Gold fell 1.3 percent during the week.

Yields on U.S. 10-year Treasury bonds continued to rise, with hawkish statements from Federal Reserve officials (US Federal Reserve) regarding the US Federal Reserve’s policy of raising interest rates, strengthening expectations that the US Federal Reserve will raise interest rates quickly and substantially. An environment that addresses the rise in inflation.

Gold is very sensitive to raising US interest rates in the short term and increasing yields on Treasury bonds because it increases the potential cost of holding precious metal holders who do not pay interest.

Among other precious metals, silver was down 0.3 percent at $ 24.56 an ounce. Platinum was down 0.2 percent at $ 966.56 an ounce. Palladium rose 0.1 percent to $ 2,423.81 an ounce.


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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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