• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 14 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 1 day "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 4 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 10 mins The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 17 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Did China cherry-pick the factors that affected the economic slow-down?
  • 1 day "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 1 day Are you aware of Oil Price short videos on our energy topics?
  • 2 days Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 2 days NordStream2

Breaking News:

California Gasoline Prices Are Spiking

The Most Exciting Medical Breakthrough Of The Decade?

The Most Exciting Medical Breakthrough Of The Decade?

Artificial intelligence is coming for…

Climbing Yields, Stronger Dollar Weigh On Gold Prices

Gold prices reversed course on Thursday, dropping from a more than two-week high, as bullion’s appeal continues to be tarnished by climbing US Treasury yields and a firmer dollar.

Spot gold fell 1.1% to $1,728.96 per ounce by noon EST, while US gold futures for April delivery held steady at $1,728.80 per ounce.

Meanwhile, the benchmark US 10-year Treasury yield rose to 1.74% for the first time since January 2020, helping to lift the dollar from a two-week low. 

The US Federal Reserve on Wednesday said the US economy was on track for its fastest expansion in nearly 40 years, but the central bank pledged to keep its ultra-easy monetary policy stance despite expected inflationary pressure.

This message helped briefly curb the relentless rise of bond rates, which have been putting pressure on non-interest-bearing gold this year.

“Gold has, despite the outlook for higher inflation as the Fed allows the economy to run red hot, traded lower today as yields continue to climb,” Ole Hansen, head of commodity strategy at Saxo Bank A/S, said in a note to Bloomberg.

The Fed allowing inflation to rise should support a turnaround, “but first we need to scale $1,765 an ounce which has become a level that many are watching,” he added.

“(The Fed) is getting more optimistic and that doesn’t bode well for gold and suggests that the trend lower is likely to continue,” DailyFX currency strategist Ilya Spivak, told Reuters.

By Mining.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News