{"id":210302,"date":"2021-10-06T15:06:56","date_gmt":"2021-10-06T15:06:56","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=210302"},"modified":"2021-10-06T15:06:56","modified_gmt":"2021-10-06T15:06:56","slug":"gold-prices-10","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/gold-prices-10\/","title":{"rendered":"Dollar rise, bond yields recovery pressure gold prices"},"content":{"rendered":"<p>Gold prices fell this morning, Wednesday, pressured by the rise of the US dollar and the recovery of bond yields.<\/p>\n<p>The US Treasury yields come ahead of the US non-farm payrolls data.<\/p>\n<p>Spot gold prices fell 0.5 percent to $1,750.51 an ounce by 0723 GMT, while US gold futures fell 0.7 percent to $1749.40.<\/p>\n<h2>Gold prices<\/h2>\n<p>The dollar rose towards its highest levels in 2021, which reduced the attractiveness of gold for holders in other currencies, the benchmark 10-year US Treasury yield reached its highest level since June.<\/p>\n<p>According to Reuters, Kyle Roda, an analyst at <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjgtvHah7bzAhUFgf0HHT-CD-sQFnoECAgQAQ&amp;url=https%3A%2F%2Fwww.ig.com%2Fen&amp;usg=AOvVaw2qlM7ZqkxcfUOGts1XUseh\">IG Markets<\/a>, said that the momentum of the gold price is waning on the background of monetary policy expectations.<\/p>\n<p>&#8220;There remain significant indications of cost pressures in the global economy and that will keep the focus on central banks and policy tightening.&#8221;<\/p>\n<p>Silver fell in spot transactions 1.1 percent to $ 22.42 an ounce, platinum fell 1.4 percent to $ 948.02, and palladium fell 0.9 percent to $ 1896.66.<\/p>\n<h2>Job data<\/h2>\n<p>In a related context, Jeffrey Haley, senior market analyst for the Asia-Pacific region at OANDA, said weak stocks are pushing Asian investors to buy the dollar, which is putting pressure on gold.<\/p>\n<p>He added, &#8220;The metal will be in a range between 1,750 and 1,785 dollars before the US jobs report.&#8221;<\/p>\n<p>Aside from inflation, fragile US-China trade relations, China&#8217;s Evergrande debt crisis and impasse over US debt ceiling have stimulated some safe-haven inflows into gold as well, providing a floor for bullion prices.<\/p>\n<p>&#8220;Gold may find support on dips to $1,750 this week, with rising inflation and US financial concerns,&#8221; Haley said.<\/p>\n<p>Haley added that while uncertainty will support gold to some extent, the direction of US monetary policy will ultimately be the winner.<\/p>\n<p>Non-farm payrolls are expected to show continued improvement in the labor market, likely allowing the Federal Reserve to start cutting stimulus before the end of the year.<\/p>\n<p>Lower stimulus and higher interest rates raise bond yields and put pressure on gold as it translates into an increased opportunity cost of holding interest-free bullion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices fell this morning, Wednesday, pressured by the rise of the US dollar and the recovery of bond yields. The US Treasury yields come ahead of the US non-farm payrolls data. Spot gold prices fell 0.5 percent to $1,750.51 an ounce by 0723 GMT, while US gold futures fell 0.7 percent to $1749.40. Gold [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":210303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[278],"class_list":["post-210302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar rise, bond yields recovery pressure gold prices<\/title>\n<meta name=\"description\" content=\"BNReport | Gold prices fell this morning, Wednesday, pressured by the rise of the US dollar and the recovery of bond yields.\" \/>\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-10\/\" \/>\n<meta property=\"og:locale\" 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