Gold futures closed lower on Tuesday (Jan. 10) as a strong dollar and rising U.S. Treasury yields weighed on the gold market.
- Gold futures were down $1.3, or 0.07%, at $1,876.5 per ounce.
- Silver futures were down 20.6 cents, or 0.86%, at $23.665 an ounce.
- Platinum futures were down $10.1, or 0.92%, at $1,088.5 per ounce.
- Palladium futures rose $1.90, or 0.1%, to settle at $1,777.30 per ounce.
The dollar index was 0.23% higher against a basket of six major currencies at 103.2360, while the yield on 10-year U.S. Treasury bonds rose again overnight to 3.589%. The strength of the dollar makes gold contracts priced in dollars more expensive for investors in other currencies, while a rise in U.S. Treasury bond yields raises the cost of owning gold. This is because gold is an asset without interest.
Investors are eagerly watching the release of the U.S. Consumer Price Index (CPI) for the month of December this Thursday. Analysts expect the overall consumer price index, which includes food and energy, to rise 6.6% year-over-year in December. This would be a slowdown from 7.1% in November.
In addition, analysts expect the core CPI excluding food and energy to rise 5.7% in December from a year earlier. This would be a slowdown from 6.0% in November.
The Spot Market is Open
Wednesday, January 11, 2023
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 12.00 | 1,877.40 1,878.40 | +0.50 +0.03% | 1,872.20 1,879.50 |
| Silver 12.00 | 23.65 23.75 | +0.08 +0.34% | 23.55 23.76 |
| Platinum 12.00 | 1,076.00 1,086.00 | -1.00 -0.09% | 1,072.00 1,088.00 |
| Palladium 10.35 | 1,698.00 1,848.00 | -2.00 -0.12% | 1,694.00 1,852.00 |
| Rhodium 06.00 | 11,000.00 13,000.00 | 0.00 0.00% | 11,000.00 13,000.00 |