Gold slips on strong dollar, treasury yields

that can stop the yellow metal’s decline right now, adding that funds become active sellers each time gold crosses the $1,800 per ounce level.

Daniel Briesemann, analyst at Commerzbank, asserted that gold is supposed to profit from high inflation expectations, but is being kept in check due to the prospect of interest rate hikes from either in the near, or in the more distant future.

On the physical side, the global demand for gold recorded a sharp decline in the third quarter of 2021 at 831 tonnes, its lowest level since Q4 2020, the World Gold Council (WGC) reported.

The gold trade body attributed the declining demand trend mainly to the ongoing impact of the COVID-19 pandemic.

The WGC however noted that the demand for gold from jewellers as well as smaller retail investors continued to remain strong during the quarter, while the jewellery demand is expected to exceed the levels witnessed in 2020.