{"id":68796,"date":"2023-10-04T19:13:27","date_gmt":"2023-10-04T23:13:27","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/gold-down-8th-day-in-row-as-dollar-yields-rally-again-before-retreating\/"},"modified":"2023-10-04T19:13:29","modified_gmt":"2023-10-04T23:13:29","slug":"gold-down-8th-day-in-row-as-dollar-yields-rally-again-before-retreating","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=68796","title":{"rendered":"Gold down 8th day in row as dollar, yields rally again before retreating"},"content":{"rendered":"
\n

Investing.com – {8830|Gold}} can\u2019t seem to put in a positive close these days, even when the and are in retreat.<\/p>\n

Gold\u2019s most-active contract on New York\u2019s Comex, December, settled down $6.70, or 0.4%, at $1,834.80 an ounce. The benchmark gold futures contract lost 3.1% last week for its biggest weekly decline since the end of January. This week, December gold was off 2.6% for the current week.<\/p>\n

The , more closely watched by some traders than futures, settled at $1,821.20, down $1.78, or 0.1%, for the day. Spot gold fell 4% last week, the most since a near 6% plunge during the week to June 11, 2021. This week, it is on course for another 1.5% drop.<\/p>\n

Rallying yields and the dollar \u2014 the twin nemesis to gold \u2014 have practically wiped most, if not all, of gold\u2019s shine this year, leaving Comex futures barely in the positive for 2023 and the spot market in red territory.<\/p>\n

Late on Wednesday, the Dollar Index was at 106.77, after hitting a 11-month high of 107.35 on Tuesday. The return on the 10-year Treasury note, which leads US bonds yields, was at 4.735, retreating from Monday\u2019s 16-year high of 1,849.06.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com – {8830|Gold}} can\u2019t seem to put in a positive close these days, even when the and are in retreat. Gold\u2019s most-active contract on New York\u2019s Comex, December, settled down $6.70, or 0.4%, at $1,834.80 an ounce. The benchmark gold futures contract lost 3.1% last week for its biggest weekly decline since the end of […]<\/p>\n","protected":false},"author":1,"featured_media":3398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-68796","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nGold down 8th day in row as dollar, yields rally again before retreating | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com - {8830|Gold}} can\u2019t seem to put in a positive close these days, even when the and are in retreat. 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