{"id":193207,"date":"2021-03-03T19:15:00","date_gmt":"2021-03-03T16:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gold-slips-below-1700-as-bond-yields-rise-and-dollar-firms\/"},"modified":"2021-03-03T19:15:00","modified_gmt":"2021-03-03T16:15:00","slug":"gold-slips-below-1700-as-bond-yields-rise-and-dollar-firms","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gold-slips-below-1700-as-bond-yields-rise-and-dollar-firms\/","title":{"rendered":"#\n  Gold slips below $1,700 as bond yields rise and dollar firms"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413c86a0fbc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413c86a0fbc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-slips-below-1700-as-bond-yields-rise-and-dollar-firms\/#Gold_prices_back_down_to_levels_seen_last_June\" >Gold prices back down to levels seen last June<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-slips-below-1700-as-bond-yields-rise-and-dollar-firms\/#Myra_P_Saefong_and\" >Myra P. Saefong and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-slips-below-1700-as-bond-yields-rise-and-dollar-firms\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Gold slips below $1,700 as bond yields rise and dollar firms<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Gold_prices_back_down_to_levels_seen_last_June\"><\/span>\n  Gold prices back down to levels seen last June<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000185564\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Gold futures headed sharply lower Wednesday, briefly dipping below the key $1,700 mark for the first time since June, as U.S. Treasury yields resumed their rise and the dollar firmed, pressuring prices for the precious metal.<\/p>\n<p> The move comes a day after gold posted its first gain in six sessions.<\/p>\n<div class=\"paywall\">\n       \u201cGold is once again ignoring everything else but those bond yields,\u201d Fawad Razaqzada, market analyst at ThinkMarkets, told MarketWatch. \u201cAs yields continue to rise, so do the opportunity cost of holding non-interest-bearing assets like gold.\u201d<\/p>\n<p>\u201cThe precious metal needs yields to start dropping back or the dollar to weaken sharply for it to find some support,\u201d he said.<\/p>\n<p>Gold for April delivery\u00a0on Comex<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.78%<\/bg-quote><\/p>\n<p>        GCJ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/212606756\/delayed\" class=\"negative\">-0.78%<\/bg-quote><br \/>\n       was down $12.10, or 0.7%, to trade at $1,721.50 an ounce. It touched an intraday low at $1,699.40, the lowest most-active contract price since early June, FactSet data show. The slide for the precious metal comes after the most-active contract on Tuesday posted a gain after five straight declines.<\/p>\n<p>Analysts at UBS also make the case that higher nominal yields, with the 10-year Treasury note<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">1.480%<\/bg-quote><br \/>\n       drifting up to 1.48% in Wednesday dealings, and higher real yields, factoring for inflation, are putting pressure on gold, which doesn\u2019t offer a coupon. <\/p>\n<p>\u201cHigher nominal and real US bond yields have hurt gold recently, while ongoing ETF outflows should remain the key challenge for this year,\u201d wrote UBS strategists in a note dated March 2, referring also to monthly data showing that gold via exchange-traded funds is being sold heavily. <\/p>\n<p>The analysts said that they could foresee gold scoring a bounce in the shorter run but are growing more bearish to neutral on the asset in the longer term, against a backdrop of rising yields and expectations that further U.S. fiscal stimulus will boost the economy and inflation. <\/p>\n<p>\u201cBut we anticipate recent headwinds to intensify again into 2H, particularly as greater US stimulus raises the prospect of an earlier-than-planned Fed rate hike,\u201d wrote the UBS analyst. <\/p>\n<p>For that reason, UBS has lowered its gold forecasts by $150 per ounce,<br \/>bringing end-June to $1,750, end-September to $1,700, and end-December and end-March 2022 to $1,650.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>On Wednesday, gold took a slight leg lower after private-sector payroll data from Automatic Data Processing, rose by 117,000 jobs in February after increasing 195,000 in the prior month. Economists polled by the Wall Street Journal had forecast a gain of 225,000 private sector jobs in February. <\/p>\n<p>Gold prices showed little reaction to separate data showing the final IHS Markit Services reading at 59.8 in February, up from an initial 58.9, but the ISM services survey fell to a nine-month low of 55.3% in February from a two-year high of 58.7% in January.<\/p>\n<p>Meanwhile, May silver<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"negative\">-2.04%<\/bg-quote><\/p>\n<p>        SIK21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/213039318\/delayed\" class=\"negative\">-2.04%<\/bg-quote><br \/>\n       shed 57 cents, or 2.1%, to reach $26.31 an ounce, following a nearly 0.8% gain on Tuesday. <\/p>\n<p> May copper<br \/>\n        HGK21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210056589\/delayed\" class=\"negative\">-1.79%<\/bg-quote><br \/>\n       shed 1.8% to $4.1465 a pound. April platinum<br \/>\n        PLJ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/216224626\/delayed\" class=\"negative\">-2.22%<\/bg-quote><br \/>\n       lost 2.2% to $1,186.80 an ounce and June palladium<br \/>\n        PAM21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/217647915\/delayed\" class=\"negative\">-0.36%<\/bg-quote><br \/>\n       edged down by 0.4% to $2,360 an ounce.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Myra P. Saefong\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Myra_P_Saefong_and\"><\/span>Myra P. Saefong and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_DeCambre\"><\/span>Mark DeCambre<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D2D4DC69E5E6%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Gold slips below $1,700 as bond yields rise and dollar firms &#8221; Gold prices back down to levels seen last June Gold futures headed sharply lower Wednesday, briefly dipping below the key $1,700 mark for the first time since June, as U.S. Treasury yields resumed their rise and the dollar firmed, pressuring prices for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":193208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-193207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/193207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=193207"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/193207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/193208"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=193207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=193207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=193207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}