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Gold trading is weak after yesterday's recovery attempts
Gold saw weak movements during the Asian trading session on Wednesday after trying to recover from Tuesday's low of three weeks, as the dollar rose and the yield on government bonds rose.
The greenback rallied against the majors to trade near the top in two months as support for the improvement in economic data and 10-year government bond yields rose above 3%.
The yield on US government bonds has soared since the beginning of the week and hit its highest level since January 2014, helping to pull trades from the gold and commodity markets to bond markets that offer a return, unlike investing in gold.
As for the stock indices, they started to fall on the back of rising demand for bond markets that provide investors with a return to the stock market, but gold did not benefit from the decline in stocks because of the negative pressure on it.
Gold prices traded at $ 1329.05 per ounce after hitting a low of $ 1328.31 an ounce and opened today's session at $ 1329.84 an ounce reaching a high of $ 1332.03 an ounce.
The greenback rallied against the majors to trade near the top in two months as support for the improvement in economic data and 10-year government bond yields rose above 3%.
The yield on US government bonds has soared since the beginning of the week and hit its highest level since January 2014, helping to pull trades from the gold and commodity markets to bond markets that offer a return, unlike investing in gold.
As for the stock indices, they started to fall on the back of rising demand for bond markets that provide investors with a return to the stock market, but gold did not benefit from the decline in stocks because of the negative pressure on it.
Gold prices traded at $ 1329.05 per ounce after hitting a low of $ 1328.31 an ounce and opened today's session at $ 1329.84 an ounce reaching a high of $ 1332.03 an ounce.
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