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Gold price drop

2022-05-02T06:30:30.918Z


London, SANA- Gold prices fell today, as rising US Treasury yields pressured demand for the precious metal


London-Sana

Gold prices fell today, as rising US Treasury yields pressured demand for the precious metal, ahead of a key meeting of the Federal Reserve this week.

And Reuters reported that gold fell in spot transactions 0.3 percent to $ 1890.69 an ounce, and gold futures in the United States fell one percent to $ 1893.40.

It appears that Fed policy makers are ready to announce a series of aggressive rate hikes until at least the summer to counteract rapid inflation and rising labor costs in the US.

And the benchmark US Treasury yields rose for ten years today, which put pressure on the demand for gold.

As for other precious metals, silver fell in spot transactions by 0.4 percent to $22.66 an ounce, platinum fell 0.2 percent to $929.51 and palladium fell 1.7 percent to $2281.99.

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Source: sena

All business articles on 2022-05-02

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