Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold slid 0.4% to close under $1,804 as equities and bond yields rebounded further on rising risk appetite, undercutting demand for safe-haven assets. It was the metals lowest finish on more than a week.

Wall Street rallied for a second session, with all three major indexes adding 0.8% after strong quarterly earnings reports from Blue Chips like Verizon and Coca-Cola stoked optimism about the economy despite ongoing Covid concerns.

Tracking with risk sentiment, benchmark 10-year Treasury yields rose to 1.29% as investors shifted from bonds to stocks. Yields had plunged to a five-month low of 1.15% earlier this week as the aggressive Delta variant caused US infections and deaths to increase by nearly 50% over the past week, almost entirely among the unvaccinated.

Stemming gold's slide, the dollar rolled back from three-month highs as haven currencies lost favor. A falling dollar supports gold and other commodities by making them less pricey overseas.

The other precious metals were higher, with silver and platinum adding 1% each while palladium picked up 0.6%.

At the Comex close: August slid $8 to $1,803.40; September silver rose 26 cents to $25.26; October platinum added 10.10 to $1,075.30; and September palladium climbed $14.50 to $2,654.90 an ounce.