Gold and silver trade lower again on Wednesday after a brief respite Tuesday as the yellow metal shows signs of stabilizing around $1,750 per ounce for the...
Gold and silver traded lower again on Wednesday after a brief respite Tuesday as the yellow metal showed signs of stabilizing around $1,750 per ounce for the most-active contract.
Price actionWhat analysts are saying Precious metals analysts blamed the rebound in the U.S. dollar and long-term Treasury yields for the weakness in gold over the past week, but Rupert Rowling, a precious metals analyst at Kinesis Money, said that it looks like gold is finally stabilizing despite continued strength in both the...
Price action What analysts are saying Precious metals analysts blamed the rebound in the U.S. dollar and long-term Treasury yields for the weakness in gold over the past week, but Rupert Rowling, a precious metals analyst at Kinesis Money, said that it looks like gold is finally stabilizing despite continued strength in both the dollar and yields.
“Bullion is showing some interesting signs of a rebound, or at least a stabilization, despite the brilliant performance of the greenback and the fact that 10-year Treasuries yields are still above 3%,” Rowling wrote in a note to clients Wednesday. The ICE U.S. Dollar Index DXY , a gauge of the greenback’s strength against a basket of rivals, remained near a two-decade high, trading at 108.86, while the 10-year Treasury yield TMUBMUSD10Y was flat at 3.047%.
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