Gold prices have fallen to their lowest since March, with shares of precious metal miners and related exchange-traded funds posting significant losses along with them.
— Adam Koos, Libertas Wealth Management Group On Wednesday, gold for December delivery GC00, +0.06% GCZ23, +0.06% fell $6.70, or 0.4%, to settle at $1,834.80 an ounce on Comex. U.S. jobs data are also coming in “strong, smothering the fear trade in gold, all while yields climb to atmospheric levels, seemingly with plenty of gas in the tank,” he said.
Higher interest rates and a stronger dollar can undercut appetite for silver and gold, which don’t offer a coupon and are priced in U.S. dollars.
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