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After a harsh rise, gold prices are heading downward
- Time: 03/10/2021 17:56:03
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{Economic: Al Furat News} Gold prices fell, today, Wednesday, after recording the largest jump in two months in the previous session, with the increase in US Treasury revenues and the dollar, weakening the attractiveness of the yellow metal.
Gold fell in the spot market 0.2 percent to $ 1712.82 an ounce, by 0525 GMT, after it rose more than 2 percent on Tuesday due to falling bond yields and the dollar from their highest levels in months.
While gold fell in futures trading 0.4 percent, to $ 1710.70 an ounce.
"There is an element of corrective price movement in the price after the great rise of gold in the previous twenty-four hours, and gold was falling dramatically against the rising returns," said Ilya Spivak, an expert from "Daily Forex".
US bond yields recovered on Wednesday, reducing the temptation to hold gold, as the dollar rebounded.
Raghad Daham
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{Economic: Al Furat News} Gold prices fell, today, Wednesday, after recording the largest jump in two months in the previous session, with the increase in US Treasury revenues and the dollar, weakening the attractiveness of the yellow metal.
Gold fell in the spot market 0.2 percent to $ 1712.82 an ounce, by 0525 GMT, after it rose more than 2 percent on Tuesday due to falling bond yields and the dollar from their highest levels in months.
While gold fell in futures trading 0.4 percent, to $ 1710.70 an ounce.
"There is an element of corrective price movement in the price after the great rise of gold in the previous twenty-four hours, and gold was falling dramatically against the rising returns," said Ilya Spivak, an expert from "Daily Forex".
US bond yields recovered on Wednesday, reducing the temptation to hold gold, as the dollar rebounded.
Raghad Daham
[You must be registered and logged in to see this link.]
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