Gold futures are experiencing a downward trend as better-than-expected U.S. jobs data strengthens U.S. Treasury yields and the dollar. This has dampened investor interest in gold and is setting prices on track for their first weekly loss in a month. Weekly Loss in Gold Prices Gold for December delivery (GC00, -1.32% GCG24, -1.32%) has fallen by $22.90, or 1.1%, bringing the … [Read more...] about Gold Futures Head Lower as U.S. Jobs Data Boosts Treasury Yields
Dollar
Gold Prices Reach Record Highs as Treasuries and Dollar Decline
Gold prices are concluding a remarkable year on a positive note, soaring to yet another all-time high as Treasury yields and the dollar continue to decline. This trend is driven by the widespread anticipation of interest rate cuts by the Federal Reserve. According to FactSet, gold for February delivery (GCG24, -0.41%) closed at an unprecedented $2,093.10 per ounce on Comex … [Read more...] about Gold Prices Reach Record Highs as Treasuries and Dollar Decline
Dollar Grows to Strongest Level in Nearly Two Years
Source: Bloomberg An indicator of the US dollar rallied to its best performance in nearly two years in line with the continued increase in Treasury yields. DXY is up 0.30%, while QQQ is down 1.02%. The Bloomberg Dollar Spot index inched up by 0.4%, overtaking the previous year-to-date high. The last time this level was seen was in July 2020.The greenback appreciated … [Read more...] about Dollar Grows to Strongest Level in Nearly Two Years
Japanese Yen Depreciates to Weakest Against Dollar in Seven Years
Source: Financial Times The Japanese yen plunged to its weakest level against the US dollar in seven years on Monday after its central bank offered to boost its bond-buying program. EWJ is down 1.74%. The yen depreciated by over 2% to reach ¥125 versus the dollar, with traders expecting more weakness.The currency has already dropped by over 7% so far this month, making … [Read more...] about Japanese Yen Depreciates to Weakest Against Dollar in Seven Years
