• Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

10 Budgeting Rules That Are Quietly Hurting Middle-Class Families

July 2, 2025

How One Founder Is Rethinking Supplements With David Beckham

July 1, 2025

Why Your Finance Team Needs an AI Strategy, Now

July 1, 2025
Facebook Twitter Instagram
Trending
  • 10 Budgeting Rules That Are Quietly Hurting Middle-Class Families
  • How One Founder Is Rethinking Supplements With David Beckham
  • Why Your Finance Team Needs an AI Strategy, Now
  • AI Startup TML From Ex-OpenAI Exec Mira Murati Pays $500,000
  • He Went From $471K in Debt to Teaching Others How to Succeed
  • Summer Financial Checklist
  • 3 Gently Used Cars You Can Still Buy for Under $20,000
  • 20 Companies With Permanent Remote Jobs
Wednesday, July 2
Facebook Twitter Instagram
FintechoPro
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
FintechoPro
Home » Gold prices end lower as bond yields edge higher, with focus on Fed’s rate path
Investing

Gold prices end lower as bond yields edge higher, with focus on Fed’s rate path

News RoomBy News RoomAugust 9, 20230 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Gold prices closed lower on Monday, following robust gains during Friday’s session, as bond yields edged higher, putting pressure on the yellow metal.

Prices for silver also fell, with the most-active contract ending at its lowest level in about a month.

Price action

  • Gold futures for December
    GC00,
    +0.05%

    GCZ23,
    +0.05%
    fell by $6.10, or 0.3%, to $1,970 per ounce on Comex.

  • Silver futures for September delivery 
    SI00,
    -0.01%

    SIU23,
    -0.01%
    shed 48 cents, or 2%, to $23.23 per ounce, the lowest for a most-active contract since July 6, according to Dow Jones Market Data.

  • Palladium futures for September
    PA00,
    -0.62%

    PAU23,
    -0.62%
    fell by $28.40, or 2.3%, to $1,236.20 per ounce, and platinum futures for October delivery
    PL00,
    -0.42%

    PLV23,
    -0.42%
    declined by $1.60, or 0.2%, to $926.90 per ounce.

  • Copper futures for September
    HG00,
    +0.82%

    HGU23,
    +0.82%
    declined 0.8% to $3.85 per pound.

Market drivers

Gold prices fell Monday as bond yields edged higher and investors focused on the chances for another rate hike from the Federal Reserve.

The U.S. dollar
DXY
edged up less than 0.1% at 102.0 against a basket of rival currencies on Monday, according to FactSet. Bond yields were also higher on Monday after last week’s jump in Treasury yields helped pull stocks lower.

Higher bond yields and a strong dollar can dull demand for gold. Several senior Federal Reserve officials recently said the door could be open to another hike of the central bank’s policy rate in September, in part due to the resilience of the U.S. economy, despite the highest Fed policy rate in 22 years.

Read: Here’s the trade that has pushed long-term Treasury yields to 2023 highs

“Fed rate hikes, to date, do not appear to be having the effect on the economy or the labor market that policy makers have been anticipating,” Mizuho Securities economists Steven Ricchiuto and Alex Pelle wrote in a Monday client note.

“After 525-550 basis points of rate hikes since March of last year, policy should already be dampening economic activity, especially after the regional bank failures between March and May,” they wrote.

New York Fed President John Williams on Monday told the New York Times that he feels the Fed is nearly finished with its campaign against inflation and that the central bank could start lowering rates again as soon as next year.

Fed governor Michelle Bowman said over the weekend that rates still need to rise higher to tame price pressures.

Investors will receive the next update on the state of U.S. inflation Thursday, when the consumer-price index for July is released. June data released last month spurred a rally in U.S. stocks after price pressures ebbed more quickly than economists had expected.

The 10-year Treasury
BX:TMUBMUSD10Y
yield was up 2 basis points on Monday to 4.07%.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Why Your Finance Team Needs an AI Strategy, Now

Investing July 1, 2025

Grief Forced Me to Step Away From My Company. These 5 Systems Made It Possible.

Investing June 30, 2025

Access to 1,000+ Skill Courses Is Now Just $20

Investing June 29, 2025

17 Surprising Ways 7-Figure Solopreneurs Are Using AI — And You’re Not

Investing June 28, 2025

Microsoft Staff Told to Use AI More at Work: Report

Investing June 27, 2025

Former Marine Turns Health Scare Into B2B Wellness Media Startup

Investing June 26, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

How One Founder Is Rethinking Supplements With David Beckham

July 1, 20250 Views

Why Your Finance Team Needs an AI Strategy, Now

July 1, 20250 Views

AI Startup TML From Ex-OpenAI Exec Mira Murati Pays $500,000

July 1, 20250 Views

He Went From $471K in Debt to Teaching Others How to Succeed

July 1, 20250 Views
Don't Miss

Summer Financial Checklist

By News RoomJuly 1, 2025

Summer tends to be the slow season. Many people take time off to recharge and…

3 Gently Used Cars You Can Still Buy for Under $20,000

July 1, 2025

20 Companies With Permanent Remote Jobs

July 1, 2025

8 Things You’re Forgetting to Include in Your Monthly Budget

July 1, 2025
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 FintechoPro. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.