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Gold Fell on Tapering Expectations

Adel 11 October, 2021 3:47 pm Commodities, Market Update

Gold fell in Monday morning trading in Asia, as the US Federal Reserve is expected to start reducing asset purchases on schedule despite the disappointing data in the latest US jobs report.

Gold futures were also down 0.14% at $1,754.95 by 12:14 AM ET, with the yellow metal hitting a two-week high on Friday after the US jobs report was released. , with the decline in gains during the session, after that.

The dollar, which usually moves in reverse with gold, rose on Monday, with 10-year US Treasury yields hitting their highest level since early June.

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