PT Solid Gold Berjangka | Gold Slides to 1-Week Low on Elevated US Dollar, Yields

06:20 06 September in Commodity, SOLID GOLD BERJANGKA | SOLID GROUP

Gold prices extended losses to hit their lowest level in a week on Wednesday as U.S. Treasury yields and the dollar strengthened on expectations that interest rates are likely to remain high.

Spot gold was subdued at $1,925.70 per ounce by 0313 GMT, after posting its biggest one-day loss since Aug. 1 on Tuesday. U.S. gold futures dipped 0.1% to $1,951.

The U.S. dollar hovered near six-month highs hit on Tuesday, while 10-year bond yields were at over one-week highs as markets weighed cues on interest rates.

A stronger dollar makes gold expensive for other currency holders.

Federal Reserve Governor Christopher Waller said the latest round of economic data was giving the U.S. central bank space to see if it needs to raise interest rates again.

Source : Reuters


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