Gold closes: U.S. dollar and Treasury yields rise, gold futures close under pressure
Financial World 2023-09-26 05:43:28
According to financial news on September 26, New York gold futures prices closed lower on Monday. The Federal Reserve’s stance on keeping interest rates higher for longer has sent the dollar and U.S. Treasury yields climbing, weighing on gold prices.
Gold futures for December delivery on the New York Mercantile Exchange closed down 0.46% at $1,945.60 an ounce.
Everett Millman, chief market analyst at Gainesville Coins, said: “The slightly hawkish Federal Reserve and global central banks are suppressing the current gold price.”
He expects gold prices to likely remain between $1,910 and $1,950 this week.
Federal Reserve officials warned on Friday that they would raise interest rates further even after voting last week to keep the benchmark rate steady, with three policymakers saying they were still unsure whether the war on inflation was over.
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2023-09-25 21:43:28
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