Gold prices stabilized on Tuesday, as a stronger dollar and fears that the Federal Reserve would raise interest rates again put pressure on US bond yields.<\/p>\n\n\n\n
And gold settled in spot transactions at $ 1779.39 an ounce, and US gold futures fell 0.1 percent to $ 1795.70.<\/p>\n\n\n\n
The US 10-year Treasury yield index fell for the third session to 2.7788 percent, reducing the opportunity cost of acquiring the non-yielding yellow metal.<\/p>\n\n\n\n
Gold prices fell more than one percent to their lowest level in a week on Monday as the dollar rose to its highest level in a week in an attempt to buy the yellow metal, which is a safe haven, after weak global economic data raised fears of a recession.<\/p>\n\n\n\n
Federal Reserve officials maintained a hawkish tone and signalled further interest rate hikes to curb high inflation during the year.<\/p>\n\n\n\n
It is likely that higher US interest rates and a slowing economy will reduce the demand for gold.<\/p>\n\n\n\n
Investors are now awaiting the minutes of the Federal Reserve’s July meeting, scheduled for Wednesday, for evidence of further interest rate hikes.<\/p>\n\n\n\n
As for other precious metals, silver fell in spot transactions 0.6 percent to $ 20.13 an ounce, platinum fell 0.8 percent to $ 926.10, and palladium fell 0.7 percent to $ 2130.39.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices stabilized on Tuesday, as a stronger dollar and fears that the Federal Reserve would raise interest rates again put pressure on US bond yields. And gold settled in spot transactions at $ 1779.39 an ounce, and US gold futures fell 0.1 percent to $ 1795.70. The US 10-year Treasury yield index fell for …<\/p>\n","protected":false},"author":9,"featured_media":62122,"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":[6874,8566,7471,7624],"class_list":["post-70213","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gold","tag-ny-fed-manufacturing-survey","tag-support","tag-volatility"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70213","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=70213"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70213\/revisions"}],"predecessor-version":[{"id":70214,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70213\/revisions\/70214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62122"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=70213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=70213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=70213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}