Gold Prices Face Dollar Recovery
SubscribeWe commit to never sharing or selling your personal informationfailed to achieve more than the resistance level of 1759 dollars an ounce during yesterday's trading, as the US dollar recovered against everyone.
From the beginning of the year 2022 to date, the price of gold has decreased by about 4%. In the same performance, the price of silver, the sister commodity to gold, is looking forward to testing the $22 level. The price of the white metal is on track for a November increase of about 13%, although it is down about 7% over the year.
A lower dollar rate is good for dollar-denominated commodities because it makes it cheaper for foreign investors to buy them.The US Treasury market was mixed, with the benchmark 10-year yield rising 2.4 basis points to 3.726%. One-year yields were flat at 4.761%, while 30-year yields jumped 2.5 basis points to 3.774%. The spread indicating recession remained at around -50 basis points.
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