Gold fell today to its lowest level in nearly 9 months and is heading towards a decline for the third week in a row, as the dollar and bond yields rose after statements by Federal Reserve Chairman Jerome Powell, who said that the increase in returns does not disturb the system.<\/p>\n\n\n\n
Gold fell in immediate transactions 0.3% to $1692.13 an ounce during Asian trading, after falling to its lowest level since the eighth of June at $1686.40.<\/p>\n\n\n\n
Since the start of the week, gold has fallen 2.3%.<\/p>\n\n\n\n
And US gold futures fell 0.6% to 1690.40 dollars.<\/p>\n\n\n\n
On Thursday, Powell repeated his pledge to keep credit soft and said that although the increase in yields was “noticeable” he did not believe the Fed would have to step in to cut it.<\/p>\n\n\n\n
Ten-year US yields held above 1.5%, while the dollar rose to its highest level in three months. Higher returns increase the opportunity cost of holding the yellow metal that does not generate a return.<\/p>\n\n\n\n
As for the other precious metals, silver fell 0.5% to $25.17 an ounce, and fell 5% for the week, in its worst performance since late November.<\/p>\n\n\n\n
Palladium fell 0.2% to $2,334 and platinum fell 0.6% to $ 1119.53.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold fell today to its lowest level in nearly 9 months and is heading towards a decline for the third week in a row, as the dollar and bond yields rose after statements by Federal Reserve Chairman Jerome Powell, who said that the increase in returns does not disturb the system. Gold fell in immediate …<\/p>\n","protected":false},"author":9,"featured_media":39127,"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":[38,36],"tags":[6874],"class_list":["post-42520","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42520","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=42520"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42520\/revisions"}],"predecessor-version":[{"id":42521,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42520\/revisions\/42521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/39127"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=42520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=42520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=42520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}