{"id":189504,"date":"2021-03-13T15:44:29","date_gmt":"2021-03-13T15:44:29","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=189504"},"modified":"2021-03-13T15:44:32","modified_gmt":"2021-03-13T15:44:32","slug":"gold-prices","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/gold-prices\/","title":{"rendered":"Gold prices fall due to higher US yields and dollar strength"},"content":{"rendered":"\n

Gold prices fell Friday as rising US revenues and the strength of the dollar put pressure on the yellow metal.<\/p>\n\n\n\n

However, Gold prices are heading to record the best <\/a>weekly performance in 7 weeks.<\/p>\n\n\n\n

Gold prices<\/strong><\/h2>\n\n\n\n

The price of an ounce of gold in spot transactions fell 0.3% to $1716.86 by 05:46 GMT yesterday.<\/p>\n\n\n\n

The metal prices fell to their lowest level in nine months on Monday, but the decline in Treasury yields sparked the recovery in gold’s position on the path of achieving a weekly gain of 1%.<\/p>\n\n\n\n

\u201cIt\u2019s basically the job of high returns, and although the returns have not kept going up, the problem is that they haven\u2019t decreased, and that\u2019s a problem,\u201d said Stephen Ince, senior market strategist at Axi Financial Services.<\/p>\n\n\n\n

He added, \u201cGold prices will stabilize at about $1,700 \u2026 unless we reach a new level due to higher returns.\u201d<\/p>\n\n\n\n

Since the day after US President Joe Biden signed his $1.9 trillion stimulus plan, gold price is heading to end trading this week at its best performance in 7 weeks.<\/p>\n\n\n\n

Oil subsides after 7 weeks of gains<\/strong><\/h2>\n\n\n\n

Friday, Brent crude prices fell, but hovered near $70 a barrel, as cuts made by major crude producers restrict supplies, while the market is also supported by optimism about a recovery in demand in the second half of the year.<\/p>\n\n\n\n

The price of a barrel of Brent crude futures for May delivery fell 33 cents, or 0.5%, to $69.30 by 07:49 GMT. US West Texas Intermediate crude for April delivery reached $65.65, down 37 cents, or 0.6%. .<\/p>\n\n\n\n

After gains that lasted for seven consecutive weeks, Brent crude may end its nearest month contract this week almost unchanged as investors sold crude for profit after prices hit a 13-month high on Monday following an attack on Saudi oil facilities.<\/p>\n\n\n\n

Sentiment was also supported by a decision by the Organization of the Petroleum Exporting Countries \u00a0and its allies (OPEC+<\/a>), earlier this month to keep production cuts largely intact in April.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold prices fell Friday as rising US revenues and the strength of the dollar put pressure on the yellow metal. However, Gold prices are heading to record the best weekly performance in 7 weeks. Gold prices The price of an ounce of gold in spot transactions fell 0.3% to $1716.86 by 05:46 GMT yesterday. The […]<\/p>\n","protected":false},"author":4,"featured_media":189505,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[579],"class_list":["post-189504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-gold"],"yoast_head":"\nGold prices fall due to higher US yields and dollar strength - Bnreport<\/title>\n<meta name=\"description\" content=\"Bnreport - Gold prices fell Friday as rising US revenues and the strength of the dollar put pressure on the yellow metal.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/gold-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold prices fall due to higher US yields and dollar strength - 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