Gold Stutters as Bond Yields Tick Upwards
The start of the week saw prices of both silver and gold drop as treasury yields rose ahead of a policy announcement by the Federal Reserve. Silver dropped to $58.12 an ounce, representing a 0.4% decrease. At the same time, gold dropped by 0.1% while palladium and platinum prices rose. This comes as traders continue to look past the widely expected rate cut for signals about monetary policy in the coming year. This announcement, coupled with expected government debt auctions, may reshape expectations for next year. Given that precious metals don’t raise interest, increasing rates often negatively affect their prices. …
