Gold And Dollar Dip – 11 July, 2019

A dip in the dollar coupled with a surge in U. S. Treasury yields caused the dollar to slip with investors flocking to other assets that pay interest. For August deliveries, gold futures dropped 0.4% to $1,406.70 per ounce, having gained 1.2% in earlier trading. The dollar index dipped 0.1%, adding onto the 0.3% it had already shed. Talks of higher rates and a stronger dollar have also accounted for the dip in the precious metals pricing, while Yields on 10-year Treasuries hit a one month high with higher than expected consumer prices forecast in the U.S. in June.