Gold prices fell on Friday (November 21st) as the strengthening US dollar and rising US government bond yields further dampened investor interest in the precious metal. Market participants assessed that the still-solid US employment data and economic indicators made the prospect of a Fed interest rate cut less aggressive, weakening gold's appeal as a non-yielding asset.
Amid expectations that high interest rates could persist for longer, some investors have chosen to reduce their gold positions and temporarily shift to dollar-denominated assets, causing the gold price to correct after attempting to strengthen several days earlier. (alg)
Source: Newsmaker.id
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