Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Gold Down, Treasury Yields and Dollar Strengthen

CommoditiesFeb 18, 2021 11:28PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Gina Lee

Investing.com – Gold was down on Friday morning in Asia, hitting its lowest level in nearly three months and its worst week since late November 2020, with strengthening U.S. Treasury yields putting a dent in the non-yielding yellow metal’s appeal.

Gold futures were down 0.60% at $1,764.40 by 4:26 PM ET (1:36 AM GMT). They were at their lowest since Nov. 30, 2020 and prices have dropped 3% in the week to date.

Benchmark U.S. Treasury yields continued an upward trend, after hitting a near one-year peak earlier in the week. The dollar also looked set to end the week with gains, inching up on Friday.

Investors continued to digest an unexpected rise in U.S. jobless claims over the past week, a potential harbinger of a second consecutive month of languid job growth which overshadowed the recent decline in new COVID-19 cases.

However, the number of global COVID-19 cases topped the 110 million mark as of Feb. 19, according to data from Johns Hopkins University.

Meanwhile, Swiss customs data released on Thursday said that monthly gold exports to India were at their highest since May 2019, although exports to China and Hong Kong remained at record lows.

Other precious metals also saw losses on Friday. Silver eased 0.6%, after falling over 1.8%, its worst level since mid-January 2021, in the week to date. Platinum slipped 0.7%, while headed towards its third consecutive weekly gain, and palladium dropped 0.3%.

Gold Down, Treasury Yields and Dollar Strengthen
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
The Chad Bull
The Chad Bull Feb 19, 2021 2:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You cannot print your way to prosperity. Gold is king.
chrisP bacon
chrisP bacon Feb 19, 2021 1:20AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
They crashed and trashed silver so they can clear out the stops to move it back up.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email