Gold rises to the highest level in four days, eyes $1850 and silver erases losses, approaching Wednesday’s high near $21.90.
US yields slide as demand for Treasuries picks up amid risk aversion. Gold gained momentum boosted by a context of risk aversion and a weaker US dollar. XAU\/USD rose from under $1820 to the $1850 area.
In Wall Street, stocks are falling sharply. The Dow Jones is losing 2.50% while the Nasdaq drops by more than 4%. Recession concerns are driving prices lower. At the same time, the demand for safe-haven assets boosted Treasuries. The US 10-year yield pulled back from 3.49% to 3.32%.
The US dollar is falling versus its G10 rivals, particularly against the Swiss franc and the yen. The DXY drops by 0.90%, and trades below 105.00.
The combination of lower yields and a weaker dollar pushed the Gold Index to the upside trend. The precious metal trades at $1846, the highest level since Monday and is looking at the $1850. A break above could open the doors to more gains.
The Gold Indexalso hit multi-day highs at $21.89. Earlier on Thursday, bottomed at $21.35. On the contrary, cryprocurrencies remain under pressure. Bitcoin continues to trade dangerously close to the $20,000 level.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold rises to the highest level in four days, eyes $1850 and silver erases losses, approaching Wednesday’s high near $21.90.US yields slide as demand for Treasuries picks up amid risk aversion. Gold gained momentum boosted by a context of risk aversion and a weaker US dollar. XAU\/USD rose from under $1820 to the $1850 area. …<\/p>\n","protected":false},"author":13,"featured_media":61547,"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":[6874,8477,6984,6871],"class_list":["post-67197","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gold","tag-risk-aversion","tag-treasury-yields","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67197","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\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=67197"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67197\/revisions"}],"predecessor-version":[{"id":67238,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/67197\/revisions\/67238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61547"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=67197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=67197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=67197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}