{"id":28737,"date":"2023-06-28T14:28:45","date_gmt":"2023-06-28T18:28:45","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gold-ends-slightly-lower-as-treasury-yields-rise\/"},"modified":"2023-06-28T14:28:46","modified_gmt":"2023-06-28T18:28:46","slug":"gold-ends-slightly-lower-as-treasury-yields-rise","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28737","title":{"rendered":"Gold ends slightly lower as Treasury yields rise"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002216537\" role=\"document\">\n<p>Gold edged lower Tuesday as Treasury yields rose and investors continued to fret over whether stubborn inflation around the world will push central banks to raise interest rates further.  <\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold futures for August delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.11%<\/bg-quote><\/p>\n<p>        GCQ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/229917075\/delayed\" class=\"negative\">-0.11%<\/bg-quote><br \/>\n       fell by $10, or 0.5%, to close at $1,923.80 an ounce on Comex. <\/p>\n<\/li>\n<li>\n      July silver<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"negative\">-0.50%<\/bg-quote><\/p>\n<p>        SIN23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210317649\/delayed\" class=\"negative\">-0.50%<\/bg-quote><br \/>\n       rose 13.4 cents, or 0.6%, to settle at $22.96 an ounce. <\/p>\n<\/li>\n<li>\n      Palladium for September delivery<br \/>\n        PAU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/236560919\/delayed\" class=\"negative\">-3.60%<\/bg-quote><br \/>\n       declined $8.60, or 0.7%, to end at $1.294.10 an ounce, while October platinum<br \/>\n        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"negative\">-1.20%<\/bg-quote><br \/>\n       edged up $1.10, or 0.1%, to $934 an ounce. <\/p>\n<\/li>\n<li>\n      September copper<br \/>\n        HG00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210054311\/delayed\" class=\"negative\">-1.56%<\/bg-quote><\/p>\n<p>        HGU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210058691\/delayed\" class=\"negative\">-1.56%<\/bg-quote><br \/>\n       fell 1.6 cents, or 0.4%, to close at $3.7885 a pound. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Central bankers from Europe and the U.S. have lately reiterated the need to raise interest rates further to restrain inflation which has weighed on prices of gold and silver. <\/p>\n<div class=\"paywall\">\n<p>Rate hikes by several European central banks last week helped spur a selloff that eventually took gold and silver to their lowest levels since March on Monday. <\/p>\n<p>While inflation in Europe and the U.S. has waned from last year\u2019s peak, the pace of declines has stalled, prompting central banks including the Federal Reserve to telegraph plans for more rate hikes to try to bring price pressures to heel. That\u2019s seen as bad for gold, since higher rates lift returns for investors buying bonds or keeping their money in cash, or a money-market fund.<\/p>\n<p>The yield on the 10-year Treasury note<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.715%<\/bg-quote><br \/>\n       rose 4.8 basis points to 3.767% on Tuesday, within striking distance of its three-year high above 3.85% set on May 26, noted Robert Yawger, executive director for futures at Mizuho.<\/p>\n<p>\u201cThe higher the yield on Treasuries, the more likely traders seeking safe haven financial instruments will choose interest-bearing products rather than plug their money into\u00a0gold,\u201d he said, in a note.<\/p>\n<p><strong>See: <\/strong>U.S. slaps sanctions on gold companies funding Wagner Group<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-slips-as-inflation-fears-bite-861cbe14?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold edged lower Tuesday as Treasury yields rose and investors continued to fret over whether stubborn inflation around the world will push central banks to raise interest rates further. Price action Gold futures for August delivery GC00, -0.11% GCQ23, -0.11% fell by $10, or 0.5%, to close at $1,923.80 an ounce on Comex. July silver [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-28737","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold ends slightly lower as Treasury yields rise | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold edged lower Tuesday as Treasury yields rose and investors continued to fret over whether stubborn inflation around the world will push central banks\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=28737\" 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