{"id":340193,"date":"2021-09-16T20:58:00","date_gmt":"2021-09-16T17:58:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/metals-stocks-gold-posts-sharpest-daily-drop-in-nearly-six-weeks-as-dollar-treasury-yields-edge-up\/"},"modified":"2021-09-16T20:58:00","modified_gmt":"2021-09-16T17:58:00","slug":"metals-stocks-gold-posts-sharpest-daily-drop-in-nearly-six-weeks-as-dollar-treasury-yields-edge-up","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-posts-sharpest-daily-drop-in-nearly-six-weeks-as-dollar-treasury-yields-edge-up\/","title":{"rendered":"#Metals Stocks: Gold posts sharpest daily drop in nearly six weeks as dollar, Treasury yields edge up"},"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-6a3b59801c2d5\" 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-6a3b59801c2d5\" 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-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-posts-sharpest-daily-drop-in-nearly-six-weeks-as-dollar-treasury-yields-edge-up\/#Myra_P_Saefong\" >Myra P. Saefong<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/metals-stocks-gold-posts-sharpest-daily-drop-in-nearly-six-weeks-as-dollar-treasury-yields-edge-up\/#and\" >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\/metals-stocks-gold-posts-sharpest-daily-drop-in-nearly-six-weeks-as-dollar-treasury-yields-edge-up\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Metals Stocks: Gold posts sharpest daily drop in nearly six weeks as dollar, Treasury yields edge up<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\" role=\"region\" aria-label=\"article body\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000409369\" role=\"document\">\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<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000409369\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Gold futures suffered back-to-back losses on Thursday and the sharpest daily decline in bullion in almost six weeks as the dollar and Treasury yields popped higher following data showing a rise in U.S. retail sales last month.<\/p>\n<p> Confidence in gold \u201chas been light, vulnerable even, especially with the broad commodity complex enjoying another rally \u2014 not to mention bitcoin,\u201d said Ross Norman, chief executive officer at Metals Daily.<\/p>\n<div class=\"paywall\">\n       \u201cClearly, the unexpectedly strong U.S. retail sales have boosted the dollar and gold has corrected sharply lower,\u201d he told MarketWatch. \u201cIt <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears the move lower has been accelerated by stops being triggered and is now touching support at $1,750.\u201d<\/p>\n<p>For now, \u201cthe path of least resistance looks to be lower and I suspect the bears will be hammering on the support levels to test the resolve of the bulls,\u201d he said. \u00a0<\/p>\n<p>Meanwhile, investors note that prices for precious metals are expected to be choppy as investors await clarity from the U.S. Federal Reserve next week on its plans for tapering bond purchases that provided liquidity to markets during the worst of the pandemic back in the spring of 2020. <\/p>\n<p>Metals traders also will be watching for clues on the timing of eventual interest-rate hikes. The Fed\u2019s two-day gathering is set for Sept. 21-22. <\/p>\n<p>December gold<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-2.15%<\/bg-quote><\/p>\n<p>        GCZ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039437\/delayed\" class=\"negative\">-2.15%<\/bg-quote><br \/>\n       fell $38.10, or 2.1%, to settle at at $1,756.70 an ounce, which was the steepest daily percentage and dollar decline for bullion since Aug. 6, when it fell $45.80, or 2.5%. The settlement was also the lowest since Aug. 12, FactSet data show. On Wednesday, prices fell 0.7%. <\/p>\n<p>Gold \u201cexperienced a quick and sudden chain reaction,\u201d as robust economic data exceeded expectations by a lot, Jeff Wright, chief investment officer at Wolfpack Capital, told MarketWatch.<\/p>\n<p>U.S. jobless claims were slightly higher but \u201cin a meaningful way to offset strength\u201d of retail spending data, he said, which caused U.S. Treasury 10-year yields to go up. \u201cThe result is gold went lower and very quickly.\u201d\u00a0<\/p>\n<p>U.S. initial jobless benefit claims rose 20,000 to 332,000 in the week ended Sept. 11, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.dol.gov\/ui\/data.pdf\" class=\"icon none\">the government said Thursday<\/a>. Retail sales increased 0.7% last month, though economists polled by The Wall Street Journal had forecast a 0.7% drop.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Separately, the Philadelphia Federal Reserve\u2019s business activity index rose to 30.7 in September from 19.4 in August, snapping a four-month streak of declines, the regional bank said Thursday.<\/p>\n<p>Given the latest turn of events and the Fed\u2019s desire to taper asset purchases, Wright believes gold has \u201croom to drop further in coming days,\u201d and doesn\u2019t see any positive catalyst in the near term. \u201cGold could not surpass and hold $1,800 so it could retest $1,700 without any new interest coming into the market.\u201d<\/p>\n<p>Meanwhile, December silver<br \/>\n        SIZ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210319421\/delayed\" class=\"negative\">-4.10%<\/bg-quote><\/p>\n<p>        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"negative\">-4.10%<\/bg-quote><br \/>\n       lost $1.01, or 4.2%, to settle at $22.79 an ounce, logging the lowest finish since November 2020.<\/p>\n<p>Thursday\u2019s metal moves came as the U.S. dollar, as measured by the ICE U.S. Dollar Index<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"positive\">+0.42%<\/bg-quote><span>,<\/span><br \/>\n       was up 0.4% on the day and for the week so far. A stronger dollar can make assets priced in the currency comparatively more expensive to overseas buyers.  Benchmark 10-year Treasury note yields<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">1.331%<\/bg-quote><br \/>\n      are up at around 1.327%, compared with $1.302% on Wednesday afternoon.<\/p>\n<p>Among other Comex metals, December copper<br \/>\n        HGZ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059552\/delayed\" class=\"negative\">-3.18%<\/bg-quote><br \/>\n       lost 2.8% to $4.28 a pound. October platinum<br \/>\n        PLV21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/219800830\/delayed\" class=\"negative\">-0.85%<\/bg-quote><br \/>\n       shed 0.8% to $923.30 an ounce.<\/p>\n<p>December palladium<br \/>\n        PAZ21,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/221433715\/delayed\" class=\"positive\">+1.28%<\/bg-quote><br \/>\n       tacked on 1.5% to $2,021.50 an ounce, stretching its gain into a second straight session after dropping Tuesday to its lowest finish in over a year.<\/p>\n<p><strong>Also read:<\/strong> Why some benchmark aluminum prices have soared to a record<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Myra P. Saefong\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/myra-p-saefong\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/MktwSaefong\",\"text\":\"@MktwSaefong\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:mpicache@marketwatch.com\",\"text\":\"mpicache@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\" aria-label=\"links to  author page\"><span class=\"ez-toc-section\" id=\"Myra_P_Saefong\"><\/span>Myra P. Saefong<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<h4><span class=\"ez-toc-section\" id=\"and\"><\/span> and <span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/mark-decambre\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/mdecambre\",\"text\":\"@mdecambre\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:mdecambre@marketwatch.com\",\"text\":\"mdecambre@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\" aria-label=\"links to  author page\"><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<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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Confidence&#8230;<\/p>\n","protected":false},"author":1,"featured_media":340194,"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-340193","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\/340193","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=340193"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/340193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/340194"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=340193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=340193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=340193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}