Gold falls as U.S. treasury yields rise-Xinhua

Gold falls as U.S. treasury yields rise

Source: Xinhua| 2022-09-30 02:44:30|Editor:

CHICAGO, Sept. 29 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday as U.S. treasury yields rose.

The most active gold contract for December delivery fell 1.4 U.S. dollars, or 0.08 percent, to close at 1,668.6 dollars per ounce.

Gold was under additional pressure as the U.S. Labor Department reported that U.S. initial jobless claims were 193,000 for the week ending Sept. 24, down 16,000 from a downwardly revised total of 209,000 claims for the prior week.

The U.S. real gross domestic product decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. The decrease was in line with expectations.

Silver for December delivery fell 16.8 cents, or 0.89 percent, to close at 18.712 dollars per ounce. Platinum for January delivery fell 0.6 dollars, or 0.07 percent, to close at 860.2 dollars per ounce.