Gold prices fell by as much as 1.7% on Tuesday, February 16th, to their lowest level in more than a week with the rise in US Treasury bond yields, while platinum fell in volatile trading after a rally that brought it to its highest level in six and a half years.<\/p>\n\n\n\n
gold recorded in immediate transactions $1794.50 an ounce in late trading session, down 1.32%, after touching its lowest level since the fourth of February.<\/p>\n\n\n\n
US gold futures fell 1.3% to settle at $1799.00 an ounce.<\/p>\n\n\n\n
The yellow metal is considered a hedge against inflation expected from a huge economic stimulus that has also pushed the yields of the US 10-year Treasury bonds up, which increases the cost of holding gold that does not yield a return.<\/p>\n\n\n\n
Gold has also come under pressure from registering the major stock indices<\/p>\n\n\n\n
The US government is at an all-time high amid optimism about a $1.9 trillion fiscal stimulus package in the United States to mitigate the repercussions of the Covid-19 pandemic.<\/p>\n\n\n\n
Platinum fell 3.16% to $1261.50 an ounce, after touching its highest level since September 2014.<\/p>\n\n\n\n
Analysts attributed the decline in platinum to profit-taking sales after a rally led by speculation of a possible increase in demand.<\/p>\n\n\n\n
Silver fell 1.2% to $27.25 an ounce, while palladium fell 0.13% to $2385.10 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell by as much as 1.7% on Tuesday, February 16th, to their lowest level in more than a week with the rise in US Treasury bond yields, while platinum fell in volatile trading after a rally that brought it to its highest level in six and a half years. gold recorded in immediate …<\/p>\n","protected":false},"author":9,"featured_media":31385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[6874],"class_list":["post-41593","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=41593"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41593\/revisions"}],"predecessor-version":[{"id":41594,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41593\/revisions\/41594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31385"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=41593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=41593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=41593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}