The strength of the dollar remains the main factor putting pressure on the gold price. Gold contracts closed 2% lower this evening (September 16). The rise in U.S. government bond yields is another factor putting pressure on the gold price.
Gold futures fell $38.1, or 2.12%, to $1,762.5/ounce.
Silver futures fell $1.07, or 4.23%, to close at $22.94/ounce.
Platinum contracts fell $7.2, or 0.77%, to $934.0/ounce.
Palladium contracts rose $29.90, or 1.5%, to close at $1,936.00/ounce.
The dollar’s movement index against the six major currencies of the currency basket rose 0.42% overnight to 92.9311, driving gold prices lower.
However, strong U.S. economic data prompted investors to sell gold and take profits. In August, retail sales rose 0.7% from the previous month and 15.1% from a year earlier. Spending before the start of school in the United States is expected to be responsible.
The Mid-Atlantic manufacturing index rose 30.7% in September, up from 19.4% in August.
Investors will also be keeping an eye on the Federal Reserve’s monetary policy meeting to get the timeline for QE tapering.
The Spot Market is open
Friday, September 17, 2021
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 13.12 | 1,762.90 1,763.90 | +9.20 0.52% | 1,752.50 1,764.00 |
| Silver 13.12 | 22.94 23.05 | +0.08 0.33% | 22.79 23.07 |
| Platinum 13.12 | 934.00 944.00 | +8.00 0.86% | 925.00 947.00 |
| Palladium 13.11 | 1,936.00 2,086.00 | -28.00 -2.43% | 1,907.00 2,115.00 |
| Rhodium 05.00 | 11,200.00 13,200.00 | 0.00 0.00% | 11,200.00 13,200.00 |
| Energy Updated at | Price | Change | %Change |
| Crude oil 13.11 | 72.36 | -0.25 | -0.34% |