Gold closes slightly higher as U.S. Treasury notes rise

Gold futures closed slightly higher on Tuesday (July 19) as rising U.S. Treasury yields pressured the market.

  • Gold futures were up 50 cents, or 0.03%, at $1,710.7 per ounce.
  • Silver was down 12.7 cents, or 0.67%, at $18.713 an ounce.
  • Platinum was up $2.9, or 0.34%, at $858.9 an ounce.
  • The palladium futures were up $5.10, or 0.3%, at $1,854.20 an ounce.

Gold contracts closed in positive territory. The dollar index against the six major currencies in a basket of currencies fell 0.64% to 106.6820. The depreciation of the dollar would make gold contracts cheaper for investors using other currencies.

However, the positive spread of the gold contract was limited. The yield on 10-year U.S. Treasury bonds rose to 3.006%, which put pressure on the gold price.

Investors are waiting for tomorrow’s (July 21) monetary policy meeting of the European Central Bank (ECB). The central bank is expected to raise interest rates for the first time in 11 years to curb inflation.

The Spot Market is Open

Wednesday, July 20, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
11.20
1,713.50
1,714.50
+0.70
+0.04%
1,710.10
1,715.10
Silver
11.20
18.80
18.90
+0.05
+0.24%
18.74
18.91
Platinum
11.20
884.00
894.00
+9.00
+1.03%
874.00
894.00
Palladium
10.00
1,821.00
1,971.00
+17.00
+0.94%
1,799.00
1,977.00
Rhodium
05.00
14,100.00
16,100.00
0.00
0.00%
14,100.00
16,100.00

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