Gold falls due to the strong dollar and crash worries

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Global gold is down 0.7% at $1,722.50 per ounce, the lowest level since Aug. 10’s $1,720.49 per ounce.

Gold futures declined 0.8% to $1,722.9 per ounce on Wednesday (Sept. 29).

The gold price is currently struggling with the strong U.S. dollar, which has reached its high for the year at 94.112 basis points. In addition, the yield on the 10-year U.S. government bond rose by 1.55%.
The U.S. pending home sales data surprised yesterday with an increase of 8.1%. Last month, this was still down 2%. The increase was the highest this year.

The strength of the dollar is probably the limiting factor for the gold price rally at this point. When fear in the markets increases due to the threat of a financial crash, investors will again increasingly look for safe-havens.

If the U.S. government shuts down, safe-haven gold and silver prices could rebound.

Precious Metals:

Silver is down 4.3% at $21.47 per ounce.

Platinum is down 2.3% at $944.88 per ounce.

Palladium is down 1.4% at $1,850 per ounce.

The Spot Market is Open

Thursday, September 30, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
17.40
1,724.50
1,725.50
-1.60
-0.09%
1,724.90
1,735.70
Silver
17.40
21.53
21.63
+0.01
0.07%
21.49
21.78
Platinum
17.40
958.00
968.00
+9.00
0.95%
948.00
969.00
Palladium
17.40
1,826.00
1,976.00
+40.00
2.24%
1,779.00
1,976.00
Rhodium
05.00
12,250.00
14,250.00
0.00
0.00%
12,250.00
14,250.00
Energy
Updated at

Price

Change

%Change
Crude oil
17.40

74.64

-0.19

-0.25%

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