The gold price has started to find support and is back to trading near flat on the day at around $1,660.50, at the time of writing, efficiently escaping the earlier $1,641.57 low to the day’s high of $1,664.89.
The US dollar continued to ease and spared its domination over rival currencies despite the surging bond yields amid concerns about rising interest rates that could lead to a global recession. September is approaching its end, with flows could be the cause that is moving out of a heavily committed play by long positioning of late.
Bond yields moved up amid rising interest rates. The US 10-year note’s yield was higher by 0.37% to 3.7510%. The high of the day, however, was at 3.868%. Rising yields weighed on the precious metal.<\/p>\n\n\n\n
<\/p>\n\n\n\n
However, its safe haven attraction is restored as market chaos led to a softer US dollar late nearer the end of the month, falling sharply from a 20-year high. The US Index dropped again on Thursday, making gold more affordable for international buyers. Trading at 112.20, the Dollar Index is down 0.45% on the day, balancing above the lows of 112.104.
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The gold price has started to find support and is back to trading near flat on the day at around $1,660.50, at the time of writing, efficiently escaping the earlier $1,641.57 low to the day’s high of $1,664.89. The US dollar continued to ease and spared its domination over rival currencies despite the surging bond …<\/p>\n","protected":false},"author":13,"featured_media":72288,"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":[7603,6984,8324],"class_list":["post-73202","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gold-prices","tag-treasury-yields","tag-us-dollar-index"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73202","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=73202"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73202\/revisions"}],"predecessor-version":[{"id":73209,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73202\/revisions\/73209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/72288"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=73202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=73202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=73202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}