Gold drops to its lowest level in nine months
11:11 - 09/03/2021
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Gold prices fell by more than one percent to their lowest levels in nine months, with the rise of the dollar and US Treasury bond yields remaining high, which reduces the attractiveness of the precious metal.
Spot gold fell 1.14 percent to 1681.40 dollars an ounce in the late trading session, its lowest level since the eighth of June.
And US gold futures contracts fell more than one percent to record at the settlement at $ 1678.00 an ounce.
The dollar jumped to its highest level in more than three months, while the US Treasury yields for ten years settled near the highest level in the most.
At the end of the trading session, the dollar index, which measures the value of the US currency against a basket of six major currencies, was up 0.54% at 92.385, its highest level since November 24.
The dollar jumped to a nine-month high against the Japanese currency, recording 108.91 yen, and settled near the highest level in a month against the pound at $ 1.3820.
Among other precious metals, platinum rose 1.2 percent to $ 1143.20 an ounce, while palladium fell 0.99 percent to $ 2315.20 an ounce, and silver fell 0.16 percent to $ 25.15 an ounce. End / 25