Gold prices fell on Wednesday as a U.S.-Japan trade deal announced by U.S. President Donald Trump lifted risk appetite, while higher Treasury yields added further pressure. Spot gold was down 0.2% at $3,425.58 per ounce, as of 1010 GMT, after hitting its highest point since June 16 earlier in the session. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. U.S. gold futures also slipped 0.2% to $3,437.90. Trump struck a trade deal with Japan that lowered tariffs on auto imports and spared Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans. Advertisement · Scroll to continue "Spot gold is paring some of its gains as the U.S.-Japan trade deal diluted demand for safe havens. The U.S. dollar's slight rebound is also weighing on bullion, though it's only natural that bullion bulls take a breather after the 3-day rally," said Han Tan, chief market analyst at Nemo.Money. The U.S. dollar index (.DXY), opens new tab steadied against its rivals after three straight sessions of losses, while benchmark 10-year U.S. Treasury yields rebounded from near-two-week lows. Higher bond yields increase the opportunity cost of holding non-yielding bullion, while a stronger dollar makes gold more expensive for holders of other currencies. Advertisement · Scroll to continue U.S. and Chinese officials will meet in Stockholm next week to discuss an extension to the deadline for negotiating a trade deal, U.S. Treasury Secretary Scott Bessent said. Investors are also focussed on the U.S. Federal Reserve's policy meeting scheduled for July 29-30, with market expectations that rates will be held steady. Elsewhere, spot silver rose 0.2% to $39.37 per ounce, its highest level since late September, 2011. "Silver’s supply-demand fundamentals are attractive and warrant a re-rating of prices higher and now that it is at a fresh 14-year-high, it remains to be seen whether the conviction is sufficient to breach the psychologically important $40 level," independent analyst Ross Norman said. Platinum rose 0.2% to $1,444.40 and palladium gained 1% to $1,286.93.
الأسواق المالية
مواضيع مرتبطة
التعليقات
