Reuters
Gold prices fell today, Monday, to touch their lowest level in six weeks, as prices remain under pressure due to the rise in the dollar and US Treasury yields.
Gold fell in immediate transactions 1.7 percent to $ 1816.53 an ounce, the lowest level since the second of December, and the precious metal prices fell 4.4 percent last Friday.
“The glory days of gold are over,” said Stephen Ince, chief market strategist at Axi, “The glory days of gold are over. Rising US revenues have started to seriously affect gold, and many centers continue to exit the market, as they were not prepared for these moves in the US dollar.” .
And the yields of the US Treasury bonds for ten years, rising above 1 percent, helped the dollar to reach its highest level in nearly three weeks, against competing currencies, which increases the cost of gold.
Source: Reuters
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