Gold hits yearly low as US Dollar and Bond Yields rise

Prachachat•Economy•43m ago

Reader Briefing

Gold prices hit a new yearly low, dropping over 100 dollars due to a strong US dollar and rising US Treasury bond yields.

•Gold prices reached a yearly low of 3,852 dollars before recovering slightly.
•The US 10-year bond yield rose to 5.10% and the dollar index reached 103.2.
•Brent crude oil rose 3.3% to 95.82 dollars per barrel following Donald Trump's stance on Iran negotiations.
•The market is awaiting the US PPI figures to be announced on November 13.

•Gold prices dropped over 100 dollars, hitting a yearly low of 3,852 dollars before recovering.
•A strong US dollar and rising US Treasury bond yields pressured the gold market.
•The US 10-year bond yield rose to 5.10% and the dollar index climbed to 103.2.
•Investors are concerned the Federal Reserve may raise interest rates more aggressively than expected in the December meeting.
•Donald Trump stated the US is no longer interested in negotiating a settlement with Iran.
•The statement regarding Iran caused Brent crude oil to rise 3.3% to 95.82 dollars per barrel, increasing inflation risks.
•Global gold prices closed down 113.62 dollars (2.85%) at 3,877.59 dollars, with the current price around 3,913 dollars.
•The market is monitoring US PPI data scheduled for release on November 13.

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MTS GOLD

An entity that reported on gold price movements and yearly lows.

Federal Reserve(ธนาคารกลางสหรัฐ)ℹ️

The US central bank that may adjust interest rates in December.

A gold fund that sold 0.38 tons of gold on the previous day.

Donald Trump(โดนัลด์ ทรัมป์)ℹ️

The President of the United States who changed his stance on negotiations with Iran.

United States(สหรัฐ)ℹ️

The country whose bond yields and dollar index are impacting gold prices.

Iran(อิหร่าน)ℹ️

The country with which the United States is no longer interested in negotiating a settlement.

Middle East(ตะวันออกกลาง)ℹ️

The region where the current situation is putting pressure on gold prices.