Gold falls as U.S. Treasury yields rise
Sep 16, 2022
Chicago [US], September 16: Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday as U.S. Treasury yields rose.
The most active gold contract for December delivery fell 31.8 U.S. dollars, or 1.86 percent, to close at 1,677.3 dollars per ounce.
Gold settled at its lowest price since April 2020.
Economic data released on Thursday are mixed. U.S. Labor Department reported that seasonally adjusted initial jobless claims in the United States for the week ending Sept. 10 totaled 213,000, a drop of 5,000 from the previous week and the lowest since late May.
U.S. Commerce Department reported that U.S. retail sales rose an unexpected 0.3 percent in August after falling 0.4 percent in July.
New York Fed's Empire State Manufacturing Index rose to minus 1.5 in September from minus 31.3 in August, topping the minus 13.8 consensus forecast from economists.
Nevertheless, the Philadelphia Fed Manufacturing Index in the United States fell to minus 9.9 in September from 6.2 in August, missing market expectations of 2.8 and supporting gold.
Silver for December delivery fell 30 cents, or 1.53 percent, to close at 19.269 dollars per ounce. Platinum for October delivery fell 1.7 dollars, or 0.19 percent, to close at 903.7 dollars per ounce.
Source: Xinhua
