Price of Gold Drops as Feds Increase Bond Yields
Apr 1, 2021
Last week, the price of gold dropped significantly, decreasing from a more than two-week high as bullion continues to lose its appeal as well as its value, with the value of the dollar climbing steadily and the U.S. Treasury yields increasing. Meanwhile, the U.S. gold futures for April delivery remained stable at $1,728.80/ounce while spot gold declined to $1,728.96/ounce by midday EST, which is roughly a 1.1% drop.
On the other hand, zinc dropped to $2,792 per metric ton, a 1.2% decline while palladium surged by nearly 7%, the biggest increase since May 2020. Other metals, such as tin, advanced while copper…
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