Saturday, May 14, 2022 – 06:02 WIB
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Today’s gold price slumped again at the end of trading Friday (Saturday morning WIB). Photo: ANTARA/Shutterstock/pri
jpnn.com, JAKARTA – Today’s gold price slumped again at the end of trading Friday (Saturday morning WIB).
Falling gold futures prices extended losses for the second day in a row.
Gold price today settled at a 14-week low, as a stronger USD and rising US government bond yields dampened the appeal of save heaven assets.
The most-active gold contract for June delivery on the Comex Division of the New York Exchange fell $16.4, or 0.9 percent, to close at $1,808.20 an ounce after hitting a session low of $1,797.45, its lowest since Jan. 30.
This week, June gold is down 3.9 percent.
The day before, Thursday (12/5), gold futures fell USD 29.10 or 1.57 percent to USD 1,824.60.
Market analysts assess the volatility of gold prices influenced by the high cost of living (high inflation) and the increase in interest rates by the US Federal Reserve (The Fed) to tame inflation.
That has boosted demand for the USD, which reached its highest level last seen in 20 years.
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