- Spot Gold Falls 0.5% to US$4,143.91 per Ounce as December Futures Also Decline
GLOBAL MARKETS: Gold prices declined on Monday as a firmer US dollar and rising US Treasury yields weighed on the precious metal.
Spot gold fell 0.5 per cent to US$4,143.91 per ounce, while US gold futures for December delivery slipped 0.4 per cent to US$4,163.30 per ounce.
The US dollar edged higher, making dollar-denominated gold more expensive for investors holding other currencies and potentially dampening international demand for bullion.
Meanwhile, yields on 10-year US Treasury bonds rose by 0.6 per cent, adding further pressure to gold prices. Since gold does not generate interest, higher bond yields can make interest-bearing assets more attractive to investors.
Market participants continue to monitor movements in the US dollar and Treasury yields for further indications of the direction of gold prices.
BY: The Times Union
