Gold prices fall to $1,631
28.09.2022 13:30
Gold fell in price on September 28 morning, the price is slightly above $1,630 per troy ounce, reported from the auction data.
The price of December futures for gold on the New York Comex exchange fell by $5.05, or 0.31%, to $1,631.15 per troy ounce. December silver futures fell 1.11% to $18.133 an ounce.
The dollar index (the exchange rate against a basket of currencies of six countries - US trading partners) grew by 0.52%, to 114.7 points. A stronger dollar makes gold less accessible to investors holding other currencies.
At the same time, the yield of US government bonds also increased. Thus, the yield on ten-year US government bonds (US Treasuries) rose to 3.984% from the level of the last close of 3.963%. At the same time, the indicator reached exactly 4%, for the first time since October 2008. US government bonds are an alternative investment to gold, so their quotes, as a rule, have multidirectional dynamics.
Commodity strategists at TD Securities expect gold prices to drop below $1,600 in the next stage of the rate hike cycle, Bloomberg reports, as traders speculate that high rates will continue for some time.
www.anews.az
The price of December futures for gold on the New York Comex exchange fell by $5.05, or 0.31%, to $1,631.15 per troy ounce. December silver futures fell 1.11% to $18.133 an ounce.
The dollar index (the exchange rate against a basket of currencies of six countries - US trading partners) grew by 0.52%, to 114.7 points. A stronger dollar makes gold less accessible to investors holding other currencies.
At the same time, the yield of US government bonds also increased. Thus, the yield on ten-year US government bonds (US Treasuries) rose to 3.984% from the level of the last close of 3.963%. At the same time, the indicator reached exactly 4%, for the first time since October 2008. US government bonds are an alternative investment to gold, so their quotes, as a rule, have multidirectional dynamics.
Commodity strategists at TD Securities expect gold prices to drop below $1,600 in the next stage of the rate hike cycle, Bloomberg reports, as traders speculate that high rates will continue for some time.
www.anews.az
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