Gold price slides to fresh two-and-half-year lows dampened by a risk-off mood and flows towards the US dollar, which rose to new two-decade highs. Overall, US dollar strength and higher US Treasury bond yields are two reasons for the fall in the precious metals complex, mainly the yellow metal. At the time of writing, XAU/USD is trading at $1643.50 a troy ounce.
US equities dropped as Wall Street closed with hefty losses between 1.62% and 1.80% on Friday. The US 10-year benchmark note rate retraced from yielding 3.829% and is set to end the week below the 3.70% threshold. On the same note, the US 10-year Treasury Inflation-Protected Securities (TIPS) bond yield weighed on the non-yielding metal, set to finish at 1.33%.
in the meantime, the greenback continues refreshing 20-year highs, with the US Dollar Index sitting at 112.990, up by 1.55%, after hitting the YTD high at 113.228.
#nftmasterclasswiththeviking
#cryptoland
#crypto
#xrp
#xls20
#nft
Mohit Chandra
Delete Comment
Are you sure that you want to delete this comment ?