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Gold is falling as bond yields rise
- Time: 04/05/2021 13:00:39
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{Follow-up: The Euphrates News} Gold prices fell today, Monday, as US Treasury yields rose and global stocks rose, after better-than-expected job data in the United States fueled optimism about a rapid economic recovery.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. [You must be registered and logged in to see this link.]
By 05:53 GMT, the price of an ounce of gold in spot trading was $ 1723.16, down 0.3 percent from the previous settlement price.
"The strong jobs data boosted the dollar, yields and put pressure on gold prices. I think the main trend for gold is negative," said Margaret Yang, analyst at DailyFX.
"Global economic growth is certainly taking a positive, albeit uneven, trend. Growth in the United States in particular is strong, but regions of the European Union are going through a difficult time due to the third wave of the Coronavirus," she added.
As for the other precious metals, silver fell 1.1 percent to $ 24.70 an ounce, and palladium fell 0.8 percent to $ 2645.98 an ounce.
Hussein Hatem
[You must be registered and logged in to see this link.]
{Follow-up: The Euphrates News} Gold prices fell today, Monday, as US Treasury yields rose and global stocks rose, after better-than-expected job data in the United States fueled optimism about a rapid economic recovery.
Al-Mukhtasar al-Mufid .. In important news, you can find it on the Al Furat News channel on the Telegram .. [You must be registered and logged in to see this link.]
By 05:53 GMT, the price of an ounce of gold in spot trading was $ 1723.16, down 0.3 percent from the previous settlement price.
"The strong jobs data boosted the dollar, yields and put pressure on gold prices. I think the main trend for gold is negative," said Margaret Yang, analyst at DailyFX.
"Global economic growth is certainly taking a positive, albeit uneven, trend. Growth in the United States in particular is strong, but regions of the European Union are going through a difficult time due to the third wave of the Coronavirus," she added.
As for the other precious metals, silver fell 1.1 percent to $ 24.70 an ounce, and palladium fell 0.8 percent to $ 2645.98 an ounce.
Hussein Hatem
[You must be registered and logged in to see this link.]
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