Gold Falls $5.10 as Stock Markets Continue to Rally

Gold futures closed lower last night (Dec. 29) under pressure from rising U.S. Treasury yields and slow year-end trading.

  • Gold contract was down $5.1, or 0.28%, at $1,805.8 per ounce.
  • Silver was down 26.3 cents, or 1.14%, at $22.858 an ounce.
  • The platinum contract was down $9.8, or 1%, at $970 an ounce.
  • Palladium was down $13.60, or 0.7%, at $1.987 per ounce.

Gold contracts are under pressure due to the appreciation of the dollar. This is due to the expectation that the Federal Reserve (Fed) may raise interest rates as early as March 2022. A total of three interest rate hikes are planned in order to contain the rise in inflation. The yield on 10-year U.S. Treasury bonds rose to 1.522% overnight. Markets expect the Omicron outbreak to have no impact on the U.S. economy.

Investors are buying less gold and continue to try their luck in the stock market. The Dow Jones Industrial Average continued to rise in recent days and was able to close yesterday evening at a new all-time high.

The Spot Market is Open

Thursday, December 30, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
07.30
1,804.60
1,805.60
-0.20
-0.01%
1,803.00
1,806.60
Silver
07.30
22.80
22.90
-0.04
-0.18%
22.77
22.93
Platinum
07.30
966.00
976.00
-1.00
-0.10%
964.00
978.00
Palladium
06.20
1,930.00
2,080.00
+7.00
0.36%
1,923.00
2,080.00
Rhodium
06.00
13,300.00
15,300.00
0.00
0.00%
13,300.00
15,300.00

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