Gold gave up early gains to trade flat on Tuesday as the US dollar rose, lower Treasury yields and growing recession fears kept the yellow metal near its four-week peak.<\/p>\n\n\n\n
And gold settled in spot transactions at about 1771.29 dollars an ounce by 0843 GMT, after hitting its highest level since July 5, earlier in the session, at 1780.39 dollars.<\/p>\n\n\n\n
In the US futures contracts, there was no change in the price of gold to record 1787.10 dollars an ounce.<\/p>\n\n\n\n
US 10-year Treasury yields hit a four-month low, reducing the opportunity cost of holding gold, while the dollar index rose 0.2 percent after hitting a four-week low earlier.<\/p>\n\n\n\n
Gold has recently benefited from a batch of weak economic data, as Monday’s survey showed that factories across the United States, Europe and Asia struggled to boost activity last month.<\/p>\n\n\n\n
Investors are closely watching macroeconomic indicators since Federal Reserve Chairman Jerome Powell said decisions about future rates will be determined by the new data.<\/p>\n\n\n\n
The increase in interest rates by major central banks to combat high inflation usually affects the attractiveness of the yellow metal.<\/p>\n\n\n\n
Traders are also watching for a possible escalation in Sino-US tension. US House of Representatives Speaker Nancy Pelosi is scheduled to start a visit to Taiwan on Tuesday, amid objections from China.<\/p>\n\n\n\n
As for other precious metals, silver fell 0.5 percent to $ 20.23 an ounce in spot transactions, while platinum fell 0.1 percent to $ 905.54. Palladium also fell 0.8 percent to $2,176.15.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold gave up early gains to trade flat on Tuesday as the US dollar rose, lower Treasury yields and growing recession fears kept the yellow metal near its four-week peak. And gold settled in spot transactions at about 1771.29 dollars an ounce by 0843 GMT, after hitting its highest level since July 5, earlier in …<\/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":[38,36],"tags":[9879,6874,8676,6871],"class_list":["post-69406","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-bias","tag-gold","tag-ism-manufacturing-pmi","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69406","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=69406"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69406\/revisions"}],"predecessor-version":[{"id":69409,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69406\/revisions\/69409"}],"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=69406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=69406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=69406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}