22 Hrs
Source:
Sharjah24
Gold drops as US yields rise
Gold prices fell today, Thursday, to approximately $4,048.39 per ounce, influenced by rising U.S. Treasury yields and escalating tensions in the Middle East. The market is also awaiting the Federal Reserve Chairman's comments on combating inflation. This decline came after the U.S. central bank kept interest rates unchanged, which increased the opportunity cost of holding gold. It is also expected that the price may drop close to $3,900 in the near future. Additionally, other precious metals like silver and platinum declined amid higher bond yields and geopolitical tensions.
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