Gold is going to its worst performance in the last 6 years

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Thursday, December 30, 2021 - 18:23
Point Trader Group
Gold is going to its worst performance in the last 6 years

The yellow metal is heading to record its worst performance in six years as the falling dollar faces pressure from rising US Treasury bond yields, although it continued to trade at around $1800 an ounce in limited trading on Thursday, Dec.

Spot gold fell 0.3% to $1,797.2 an ounce, and US gold futures were down 0.2% to $1,802.30 an ounce.

Gold prices hit a one-month high on Tuesday, but fell to a one-week low before closing unchanged in the next session, and are on track for the biggest annual percentage drop since 2015.

US bond yields

US 10-year Treasury yields approached a one-month high, raising the opportunity cost of holding non-yielding gold.


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