Gold futures closed lower on Tuesday (April 19) as rising U.S. Treasury note yields and a strong dollar pressured markets. In addition, investors sold gold as a safe haven after the U.S. released good economic data.
- The gold futures fell $27.4, or 1.38%, at $1,959 an ounce.
- Silver was down 75.9 cents, or 2.9 percent, at $25.391 an ounce.
- The platinum contract was down $31.8, or 3.12 percent, at $988.7 an ounce.
- Palladium was down $64.70, or 2.64 percent, at $2,380.40 an ounce.
The yield on the 10-year U.S. Treasury rose to 2.91%, the highest level since late 2018, amid forecasts that the U.S. Federal Reserve (Fed) will speed up interest rate hikes to curb inflation.
The dollar index against the six major currencies in a basket of currencies rose 0.18% to 100.9610.
Strong U.S. economic data also prompted investors to sell gold as a safe haven. According to the U.S. Department of Commerce, housing starts rose 0.3% in March to 1.793 million units from 1.788 million in February. In addition, building permits rose to 1.873M in March from 1.865M a month earlier. Analysts had expected a slight decline to 1.825M.
The Spot Market is Open
Wednesday, April 20, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 11.00 | 1,942.80 1,943.80 | -7.30 -0.37% | 1,540.60 1,952.60 |
| Silver 11.00 | 25.02 25.12 | -0.14 -0.56% | 24.95 25.28 |
| Platinum 11.00 | 977.00 987.00 | -13.00 -1.31% | 977.00 1,002.00 |
| Palladium 11.00 | 2,316.00 2,466.00 | +21.00 0.92% | 2,295.00 2,477.00 |
| Rhodium 05.00 | 17,700.00 19,700.00 | 0.00 0.00% | 17,700.00 19,700.00 |