Rising dollar drags gold down as Treasury yields remain near highest level

22.03.2021 - Korneychuk Evgeniya
Rising dollar drags gold down as Treasury yields remain near highest level

With the dollar keeping afloat and ten-year yields remaining near their highest level in over one year, gold prices fell in Asian trade on Monday.

Gold futures fell 0.09% at $1,740.15 while the dollar improved on Monday.

Two, five, and seven-year debt auctions in the U.S. treasury later in the week are anticipated among investors. Following the Fed’s announcement last Friday, big US banks will have to resume holding a temporary break from the COVID-19 regulation due to expire in March 2021 an additional layer of loss-absorbing capital against US treasury and central bank deposits.

Meanwhile, Turkey’s sudden replacement of central bank governor Naci Agbal over the weekend pushed investors to the safe-haven dollar.

In other precious metals, palladium added up 0.2% while silver and platinum were on the losing end as they dropped 1.2% and 1.3%, respectively.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?