Gold Fell $28.5 After U.S. Trading Opened

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Classic gold movement on Monday (January 3) after the New York commodity trading started gold prices dropped sharply. This was supported by rising U.S. government bond yields.

  • Gold futures fell $28.5, or 1.56%, at $1,800.1 per ounce.
  • Silver was down 54.2 cents, or 2.32%, at $22.81 an ounce.
  • The platinum contract was down $12.2, or 1.26%, at $954 per ounce.
  • Palladium fell $86.10, or 4.5%, at $1,826 an ounce.

Gold futures were under pressure as 10-year U.S. Treasury bond yields rose above 1.6% overnight, making gold less attractive to investors seeking interest rate yields.

In addition, investors continue to seek their opportunities in the stock market after the Dow Jones Industrial Average rose in New York on Monday. Positive news about the rapidly spreading Omicron variant seems to scare investors less.

Gold prices are likely to remain under pressure as the Federal Reserve is likely to raise interest rates three times this year. Analysts estimate that gold prices will fall to $1,650 until the end of the year.

The Spot Market is Open

Tuesday, January 4, 2022

Market
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
09.40
1,805.90
1,806.90
+4.50
0.25%
1,801.30
1,808.30
Silver
09.40
22.80
22.90
-0.08
-0.33%
22.73
23.10
Platinum
09.40
954.00
964.00
0.00
0.00%
951.00
968.00
Palladium
08.20
1,782.00
1,932.00
+21.00
1.19%
1,761.00
1,940.00
Rhodium
06.00
13,300.00
15,300.00
0.00
0.00%
13,300.00
15,300.00

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