{"id":54420,"date":"2023-08-29T11:45:38","date_gmt":"2023-08-29T15:45:38","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/gold-eyes-highest-finish-in-3-weeks-as-u-s-economic-data-pressure-the-dollar-and-treasury-yields\/"},"modified":"2023-08-29T11:45:40","modified_gmt":"2023-08-29T15:45:40","slug":"gold-eyes-highest-finish-in-3-weeks-as-u-s-economic-data-pressure-the-dollar-and-treasury-yields","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54420","title":{"rendered":"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002450317\" role=\"document\">\n<p>Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings weakened both the dollar and Treasury yields.<\/p>\n<p>The move for the precious metal comes ahead of U.S. inflation and labor-market numbers due later this week.    <\/p>\n<div class=\"paywall\">\n<h2>Price action <\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold futures for December delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"positive\">+0.90%<\/bg-quote><\/p>\n<p>        GCZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039381\/delayed\" class=\"positive\">+0.90%<\/bg-quote><br \/>\n       gained $12.10, or 0.6%, to $1,958.90 per ounce on Comex. A settlement around this level would be the highest for a most-active contract since Aug. 8, FactSet data show.<\/p>\n<\/li>\n<li>\n      Silver futures for September delivery<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"positive\">+2.24%<\/bg-quote><\/p>\n<p>        SIU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230611017\/delayed\" class=\"positive\">+2.24%<\/bg-quote><br \/>\n       added 43.8 cents, or 1.8%,  at $24.69 per ounce. <\/p>\n<\/li>\n<li>\n      October platinum<br \/>\n        PL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210261555\/delayed\" class=\"positive\">+1.72%<\/bg-quote><\/p>\n<p>        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"positive\">+1.72%<\/bg-quote><br \/>\n       gained $16.80, or 1.7%, to $989 per ounce, while Palladium for December delivery<br \/>\n        PA00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210237962\/delayed\" class=\"negative\">-1.46%<\/bg-quote><\/p>\n<p>        PAZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/239302145\/delayed\" class=\"negative\">-0.63%<\/bg-quote><br \/>\n        fell by $9.40, or 0.7%, to $1,252.50 per ounce. <\/p>\n<\/li>\n<li>\n      Copper for December delivery<br \/>\n        HG00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210054311\/delayed\" class=\"positive\">+1.16%<\/bg-quote><\/p>\n<p>        HGZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059556\/delayed\" class=\"positive\">+1.16%<\/bg-quote><br \/>\n       gained 2.7 cents, or 0.7%, to $3.8195 per pound. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Gold prices have benefited over the past week as Treasury yields have retreated from their highest levels in more than 15 years. <\/p>\n<p>U.S. economic data is the \u201cfocus\u201d as those numbers will move the dollar index, and any strength in the dollar index is likely to push gold lower, and vice versa, said  said Naeem Aslam, chief investment officer at Zaye Capital Markets.  <\/p>\n<p>On Tuesday, the Conference Board said the index of U.S. consumer confidence dipped to 106.1 in August from a revised 114 in the prior month. Separately, the Labor Department said U.S. job openings  fell to a 28-month low of 8.8 million in July.<\/p>\n<p>Against that backdrop, the 10-year note yield<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       was down at 4.154% on Tuesday. It had touched its highest level since 2007 last week, according to FactSet data, when it traded just shy of 4.37%. <\/p>\n<p>Meanwhile, the U.S. dollar moved below its highest levels since March. The ICE U.S. Dollar Index<br \/>\n        DXY<br \/>\n       was trading at 103.861 in Tuesday dealings, FactSet data show. <\/p>\n<p>However, for traders, what matters most is the Federal Reserve\u2019s monetary policy, Aslam said in emailed commentary. <\/p>\n<p>\u201cA tighter job market means that inflation is likely to remain elevated for an extended period of time, which means that there is a threat of further action from the Fed,\u201d he said. \u201cThis is keeping the lid on the shining metal\u2019s price.\u201d <\/p>\n<p>Commodity analysts attributed the yellow metal\u2019s recent strength to last week\u2019s commentary from Fed Chairman Jerome Powell, who sounded non-committal about the prospect of more interest-rate raises. Given the lack of clarity about where interest rates are headed, any short-term moves in the yellow metal\u2019s price could be quickly reversed once investors have a better idea of what\u2019s to come, a team at Commerzbank said. <\/p>\n<p>\u201cAgainst this backdrop, any major fluctuations in the gold price, in either direction, seem unlikely and indeed unjustified for the time being,\u201d the team said. <\/p>\n<p>Others are more optimistic. On Monday, a strategist at Morgan Stanley said in a note to clients that she\u2019s looking for opportunities to buy the yellow metal. <\/p>\n<p>Later in the week, investors will receive the next batch of significant U.S. economic data that could influence the price of the yellow metal. On Thursday, investors will receive the July personal consumption expenditure index, the Fed\u2019s preferred inflation gauge, followed by the U.S. Labor Department\u2019s August employment report on Friday. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-prices-tread-water-ahead-of-key-u-s-data-due-later-this-week-b615ba25?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings weakened both the dollar and Treasury yields. The move for the precious metal comes ahead of U.S. inflation and labor-market numbers due later this week. Price action Gold futures for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-54420","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings\" \/>\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=54420\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=54420\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-29T15:45:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-29T15:45:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/1682729303_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54420#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54420\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields\",\"datePublished\":\"2023-08-29T15:45:38+00:00\",\"dateModified\":\"2023-08-29T15:45:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54420\"},\"wordCount\":565,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=54420#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54420\",\"url\":\"https:\/\/ifintechworld.com\/?p=54420\",\"name\":\"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-29T15:45:38+00:00\",\"dateModified\":\"2023-08-29T15:45:40+00:00\",\"description\":\"Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54420#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=54420\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54420#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields | iFintechWorld","description":"Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=54420","og_locale":"en_US","og_type":"article","og_title":"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields | iFintechWorld","og_description":"Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings","og_url":"https:\/\/ifintechworld.com\/?p=54420","og_site_name":"iFintechWorld","article_published_time":"2023-08-29T15:45:38+00:00","article_modified_time":"2023-08-29T15:45:40+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/1682729303_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=54420#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=54420"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields","datePublished":"2023-08-29T15:45:38+00:00","dateModified":"2023-08-29T15:45:40+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=54420"},"wordCount":565,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=54420#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=54420","url":"https:\/\/ifintechworld.com\/?p=54420","name":"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-29T15:45:38+00:00","dateModified":"2023-08-29T15:45:40+00:00","description":"Gold prices climbed on Tuesday, looking to settle at their highest in three weeks, as data showing declines in U.S. consumer confidence and job openings","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=54420#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=54420"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=54420#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Gold eyes highest finish in 3 weeks as U.S. economic data pressure the dollar and Treasury yields"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54420"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54420\/revisions"}],"predecessor-version":[{"id":54421,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54420\/revisions\/54421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1606"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}