Title: Gold Down as U.S. Dollar and Treasury Yields Recover
- analysiswatch
- Jun 17, 2022
- 1 min read
Jun 16, 2022 11:25PM ET
By: AnalysisWatch
Gold prices were down Friday morning in Asia as the U.S. dollar and U.S. Treasury yields rebounded after falling in the previous session.
Gold futures fell 0.17% to $1,847.05 at 11:22 a.m. ET, while the dollar, which usually moves inversely to gold prices, rose Friday morning.
Yields on 10-year U.S. Treasury bonds rebounded after a sharp decline on Thursday, dampening demand for gold without yields.
The Bank of Japan (BOJ) decided Friday to maintain its ultra-loose monetary policy despite rising inflation, while central banks around the world maintained tight monetary policy.
The U.S. Federal Reserve raised interest rates on Wednesday for the first time since 1994, and the Swiss National Bank also unexpectedly raised rates by 50 basis points on Thursday, while the Bank of England raised its rates to 1.25% on the same day.
In other precious metals, silver fell 0.33%. Platinum fell 0.68%, while palladium rose 0.62%.
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