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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Global gold prices are falling

    Rocky
    Rocky
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    Global gold prices are falling Empty Global gold prices are falling

    Post by Rocky Wed 07 Sep 2022, 5:13 am

    [size=35][size=35]Global gold prices are falling[/size]
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    Economie

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    2022-09-07 | 03:37
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    Gold prices fell on Wednesday, with the dollar and Treasury yields rising after upbeat economic data boosted expectations that the Federal Reserve will continue to raise interest rates sharply.


    And gold fell in spot transactions 0.5% to $ 1692.99 an ounce, by 0330 GMT, after falling earlier to its lowest level in a week.

    US gold futures fell 0.6 percent to $1,703.30.






    Strong US service sector data boosted the dollar, and the dollar index jumped to a 20-year high, making gold more expensive for overseas buyers.
    US 10-year Treasury yields rose to their highest level since June 16, on expectations that the Federal Reserve will continue to raise rates. Higher returns increase the opportunity cost of holding non-returnable gold.

    The Federal Reserve is expected to raise rates by 75 basis points on September 21. The US central bank has raised interest rates by a total of 225 basis points since March to curb soaring inflation.
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    As for other precious metals, silver fell in spot transactions by 1.1 percent to $17.85 an ounce, platinum fell one percent to $844.43, and palladium fell one percent to $1985.25.

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