Strong Dollar Weighs on Gold Prices
Last week saw the prices of silver and gold ease in London as a stronger U.S. dollar reduced the precious metals’ recent gains. The greenback climbed to its highest level since late July, while government bonds and stocks globally also retreated after their post-Federal Reserve rebound. Gold priced in U.S. dollars ended the week almost unchanged, while silver maintained much of its recent advance at around $66.30 an ounce, nearly $2 higher. U.S. Treasury yields also moved higher, with the benchmark 10-year yield returning above 5%. That matched the high reached before the Federal Reserve’s latest meeting. The Fed raised…