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- FX Empire
Daily Gold News: Friday, Feb. 26 – Gold at New Low and Closer to $1,750
Gold is 0.6% lower this morning, as it is trading closer to $1,750 price level. What about the other precious metals?
- Reuters
Gold slumps as rising U.S. yields, dollar dull lustre
Gold tumbled 3% to an eight-month low on Friday en route to its worst month since November 2016 as a stronger dollar and elevated U.S. Treasury yields hammered non-yielding bullion's appeal. Spot gold was down 2.5% at $1,726.31 per ounce by 1:34 p.m. ET (1834 GMT), after touching $1,716.85, its lowest since June 2020. U.S. 10-year Treasury yields held near their highest in over a year, while the dollar index also jumped.
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