Sherin Elizabeth Varghese of Reuters reports that gold extends fall as dollar, treasury yields rise. Varghese writes:
Gold prices extended losses for the fourth straight session on Wednesday, weighed down by a stronger dollar and elevated bond yields on news that October U.S. consumer prices increased as expected.
The Labor Department also reported slower progress toward low inflation since mid-year, which could result in fewer interest rate cuts from the Federal Reserve next year.
Spot gold was down 0.7% at $2,580.39 per ounce by 01:49 p.m. ET (1849 GMT), after hitting a near two-month low earlier in the session.[…]
However, investors believe Trump’s presidency might cause the Fed to pause its easing cycle if inflation takes off after expected new tariffs.
“In the short term, there is potential for gold prices to slightly recover to around $2,650 per ounce, but they may decline again afterward,” Vawda added. […]
Spot silver fell 0.5% to $30.55 per ounce. Platinum slipped 0.9% to $938.60 per ounce, while palladium dropped 1.3% to $932.10 per ounce.
Read more here.
