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Home»News»Reuters’ U.S. bond yield and dollar rise holds back gold
Reuters' U.S. bond yield and dollar rise holds back gold
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Reuters’ U.S. bond yield and dollar rise holds back gold

Nadia BarnettBy Nadia BarnettSeptember 27, 2021No Comments2 Mins Read
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Gold yields on US bonds and the rise of the dollar control gold© Reuters. Gold nuggets in Istanbul – Photo from Reuters Archive.

(Reuters) – Investors were waiting for policymakers’ reports at the Federal Reserve (US Federal Reserve) on Monday on whether to cut monetary stimulus measures as US bond yields rise and fall. This mitigated the effects of the infection.

It saw little change, hitting $ 1,750.51 an ounce by 0912 GMT, while the U.S. gold futures were down 0.1 percent at $ 1,750.20.

Ten-year yields hit a three-month high, lowering the attractiveness of the yellow metal and raising its holding cost, and the dollar soaring, creating additional pressures.

“Gold seems to have entered a long-term stagnation and has not been able to move in any direction due to the 10-year bond yield and strong dollar echo,” said independent analyst Rose Norman.

Gold is a defense against rising inflation, which can be caused by widespread stimulus and currency depreciation. An increase in interest rates raises the cost of holding non-refundable gold.

Investors have been closely watching the progress of Chinese real estate firm Evergrande since it missed the deadline to pay bond interest last week.

Stephen Innes, Associate Director, SBI Asset Management, said the Central Bank of China continues to inject cash into the markets, indicating some risk in the market, which has provided some support for gold.

Among other precious metals, it rose 0.4 percent to $ 22.50 an ounce, platinum 0.1 percent to $ 982.82 an ounce and rose 0.4 percent to $ 178.93.

(Produced by Salma Najm for Arabic Newsletter – Edited by Suha Jato)

Explanation of risks: Fusion Media I would like to remind you that the data on this website is not real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges but by market makers, so prices may be inaccurate and may differ from the actual market price, i.e. prices are indicative and not suitable for trading purposes. Therefore, Fusion Media will not be responsible for any business losses you may incur as a result of using this data.

Fusion Media No one associated with Fusion Media will be liable for any loss or damage resulting from relying on information on the Website, including the purchase / sale of data, quotes, charts and signals. Please be fully informed about the risks and costs associated with financial market trading, which is one of the potentially risky investment forms.

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Nadia Barnett

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

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