On Wednesday, gold prices fell to their lowest in nearly two weeks, weighed down by persistently higher US bond yields and the dollar.<\/p>\n\n\n\n
By 0741 GMT, spot gold fell 0.4 percent to $ 1941.40 an ounce, and US gold futures fell 0.7 percent to $ 1944.80.<\/p>\n\n\n\n
On Tuesday, the price of gold fell 1.8 percent, as the impact of the rise in US 10-year Treasury yields and the dollar, which reduces demand for the precious metal, outweighed the demand for its purchase as a safe haven of value.<\/p>\n\n\n\n
The dollar has stabilized close to its recent gains, making dollar-denominated gold less attractive to holders of other currencies.<\/p>\n\n\n\n
China kept lending rates unexpectedly stable on Wednesday, and markets viewed the move as a sign of caution as the economy slows due to COVID-19 restrictions.<\/p>\n\n\n\n
US Treasury yields hovered near multi-year highs as investors prepared for a rate hike.<\/p>\n\n\n\n
On Monday, gold approached the $2,000 level an ounce, but it has come under pressure ever since.<\/p>\n\n\n\n
As for other precious metals, the price of silver in spot transactions fell 0.8 percent to $ 24.96 an ounce, the price of platinum fell 1.5 percent to $ 976.47 an ounce, while the price of palladium rose 0.3 percent to $ 2379.85 an ounce.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
On Wednesday, gold prices fell to their lowest in nearly two weeks, weighed down by persistently higher US bond yields and the dollar. By 0741 GMT, spot gold fell 0.4 percent to $ 1941.40 an ounce, and US gold futures fell 0.7 percent to $ 1944.80. On Tuesday, the price of gold fell 1.8 percent, …<\/p>\n","protected":false},"author":9,"featured_media":61161,"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":[38,37,36],"tags":[6885,6874,7580,6984],"class_list":["post-64169","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-monetary-policy","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64169","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=64169"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64169\/revisions"}],"predecessor-version":[{"id":64170,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64169\/revisions\/64170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61161"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=64169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=64169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=64169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}