New York gold futures closed overnight (March 5), falling to a nine-month low and falling $ 1,700 as a result of the dollar’s appreciation. And the rebound in US government bond yields. After the US Department of Labor released numbers of non-agricultural employment stronger than expected.
COMEX (Commodity Exchange) gold contract for April delivery. It was down $ 2.2, or 0.13 percent, to $ 1,698.50 an ounce. This is the lowest closing level since June 5, 2020, and this week, gold contracts were down 1.8%.
Silver metal contract for May delivery It was down 17.40 cents, or 0.68 percent, to $ 25.287 an ounce.
Platinum contract delivered in April. It was down $ 7, or 0.62 percent, to $ 1,128.30 an ounce.
Palladium contract delivered in June. It was down $ 13.70, or 0.6 percent, to $ 2,329.10 an ounce.
The gold contract dropped. Pressured by rising bond yields and the dollar index, the US Department of Labor reported on Friday. The number of non-agricultural employment has increased by 379,000 in February. Higher than analysts had expected Probably increased by 210,000 positions
The unemployment rate fell to 6.2 percent in February, lower than analysts had expected, possibly steady at 6.3 percent.
The gold contract was under pressure as US 10-year bond yields hit a new one-year high of 1.626% after the release of nonfarm payrolls surged higher than analysts had expected.
The dollar index, which measures the greenback against the six major currencies in the silver basket, was up 0.39% to 91.9835 last night, where the dollar’s strengthening resulted in the gold contract, which was priced at That dollar It is less attractive to investors holding other currencies.
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