Gold prices fall rising yields amid vaccine optimism, rising dollar


Andrew Rudakov | Bloomberg | Getty Images

Gold prices tumbled further during Asia hours on Wednesday, a day after the precious metal plunged to a record one-day low overnight.

Prices declined more than 5% to $1,927.39 per ounce on Tuesday – the worst single-day rout in seven years and a far cry from Friday’s record intraday high of $2,089.20. Spot gold prices had shot above the $2,000 level for the first time last week.

By Wednesday morning, spot gold prices plunged further – to $1,876.32, before clawing back gains to trade at $1,917.39 in the afternoon.

Analysts pegged that tumble to rising U.S. real yields on optimism surrounding the virus, among other factors. The dollar has also…


As Big Ten and Pac-12 cancel their football seasons because of COVID-19, college sports programs are facing a financial apocalypse

Previous article

Stock futures rise after S&P 500 snaps seven-day winning streak

Next article

You may also like

Leave a Reply

Notify of

More in Energy