Gold Price Fall As Dollar Value Surge On US Treasury Yields

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    The price of yellow metal - Gold, fell to their lowest level in a week today. In the back drop of the strong U.S. Dollar after U.S. President's decision to pull the country out of the Iran nuclear deal encouraged the oil prices and Treasury yields to surge ahead.

    Gold Price Fall As Dollar Value Surge

    U.S. President Donald Trump said that he will reimpose the U.S. economic sanctions on Iran which was previously lifted under the agreement in 2015 amidst the raising risk of conflict in Middle East and upsetting the European partners and driving uncertainty over global supply of oil.

    The value of dollar surged against Japanese yen, as the price of oil climbed to a new high pushing yields on the benchmark 10-year Treasury note closer to around 3 percent.

    The spot gold has increased by 0.006 percent to $1,312.08 per ounce at 8:22 NYT.

    U.S. Gold futures for June delivery were down by 0.6 percent at $1,305.70 per ounce.

    In times of geophysical tension political or economic, the prices of gold escalates as it is considered as a safe-haven for investment purpose apart from Japanese yen.

    The prices of silver dropped by 0.03% to $16.47 per ounce, while palladium slipped by 2.20% to reach $974.40 per ounce.

    Read more about: gold prices
    Story first published: Wednesday, May 9, 2018, 18:15 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more