Gold prices fall over 1% as US yields rebound
Economies.com
2023-09-21 17:09PM UTC
Gold prices fell on Thursday as the dollar gained ground against most major rivals with US treasury yields rebounding strongly while markets assess the Federal Reserve's latest policy statement.
US treasury yields spiked to 15-year highs after bullish signals by the Fed, pressuring stocks.
Yesterday, the Fed held interest rates unchanged at 5.5%, the highest in 22 years, but hinted strongly at a hike in November.
As for data, unemployment claims fell 20 thousand to 201 thousand last week.
Otherwise, the dollar index rose 0.2% as of 17:57 GMT to 105.3, with a session-high at 105.7, and a low at 105.2.
On trading, gold spot prices fell 1.4%, or $27.5 as of 17:58 GMT to $1,939.6 an ounce.
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