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For two reasons, gold prices drop from a 5-month high ذروة
- Time: 06/02/2021 12:03:11
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{Economic: Al Furat News} Gold fell, on Wednesday, from its highest level in nearly five months, which was recorded during the previous session, due to the release of better-than-expected US economic data and the rise of the dollar and bond yields.
Gold futures were down 0.32% at $1,898.95 by 08:40 GMT, easing back below the $1,900 level.
In contrast, the dollar, which usually moves in reverse with gold, rose, and US 10-year Treasury yields rose to their highest level in more than a week.
Investors' appetite for risk also increased as strong US economic data pointed to an economic recovery and higher inflation.
In terms of other precious metals, palladium and silver each decreased 0.1%, while platinum settled at $1191.51.
Hazem
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{Economic: Al Furat News} Gold fell, on Wednesday, from its highest level in nearly five months, which was recorded during the previous session, due to the release of better-than-expected US economic data and the rise of the dollar and bond yields.
Gold futures were down 0.32% at $1,898.95 by 08:40 GMT, easing back below the $1,900 level.
In contrast, the dollar, which usually moves in reverse with gold, rose, and US 10-year Treasury yields rose to their highest level in more than a week.
Investors' appetite for risk also increased as strong US economic data pointed to an economic recovery and higher inflation.
In terms of other precious metals, palladium and silver each decreased 0.1%, while platinum settled at $1191.51.
Hazem
[You must be registered and logged in to see this link.]
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