Gold price down amidst increasing yields on US government bonds

Gold price down amidst increasing yields on US government bonds The price of gold is symbolically declining on Monday morning as the USD strengthens and the yield on the US national debt rises.
Finance
December 6, 2021 10:22
Gold price down amidst increasing yields on US government bonds

The price of gold is symbolically declining on Monday morning as the USD strengthens and the yield on the US national debt rises, Report informs.

The price of the February gold futures on the New York Comex stock exchange decreased by 0.05%, or by $0.8, to $1,783.05 per troy ounce.

The decline in the precious metal price is facilitated by the yield on ten-year US Treasuries, which rose to 1.38% from the previous close of 1.341%, which makes this alternative for "safe" investments more attractive.

According to Prime, the American currency is strengthening, which is also unfavorable for gold. In particular, in a pair with the euro, it crossed the mark of $1.13, and with the Japanese currency stood at 113 yen. And the dollar index (the dollar's exchange rate against a basket of currencies of six countries - the main trading partners of the United States) has grown by 0.2%, to 96.31 points.

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