Gold rises as US bond yields and the dollar fall

Gold rises as US bond yields and the dollar fall
Gold rises as US bond yields and the dollar fall

Gold prices rose in volatile trading on Wednesday, supported by the dollar’s decline and falling US Treasury yields, although strong risk appetite in stock markets limited the precious metal’s gains.

And the price of gold in spot transactions rose 0.2% to $ 1796.55 an ounce (an ounce) by 1747 GMT, after declining by about 0.6% earlier in the session.

And US gold futures rose 0.3% to settle at $1,798.80.

Gold was supported by a 0.2% drop in the dollar index against the major currencies. US 10-year bond yields also fell to their lowest level in nearly two weeks, which reduces the opportunity cost of buying non-yielding gold.

Market players’ attention has now turned to the European Central Bank meeting scheduled for Thursday and the US Federal Open Market Committee meeting on November 3rd.

As for other precious metals, silver fell in spot transactions 0.1% to $ 24.10 an ounce.

Platinum fell 1.4% to $ 1013.50, and palladium fell 2.6% to $ 1959.17.

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