Gold dips as yields perk up, dollar strengthens : vimarsana.com

Gold dips as yields perk up, dollar strengthens


U.S. gold futures settled 0.2% lower at $1,801.80.
Gold fell and was heading for a weekly dip on Friday as a stronger dollar, firmer yields and equity markets chipped away at its appeal.
Spot gold fell 0.3% to $1,800.72 per ounce by 1:43 pm ET. U.S. gold futures settled 0.2% lower at $1,801.80.
Bullion has shed 0.7% this week after briefly moving toward last week’s one-month peak, as fears over rising Delta variant COVID-19 cases have eased, prompting investors to move out of the safe-haven asset as risk appetite returned.
“The gold market is seeking out a fresh fundamental driver and there really isn’t one,” said Jim Wyckoff, senior analyst with Kitco Metals, noting weaker real yields and a jump in COVID-19 cases were not enough to move prices higher.

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