Gold, silver hammered by surging USDX, bond yields
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Gold and silver prices have been negatively impacted by the rising US Dollar Index (USDX) and increasing bond yields. This trend is affecting commodities broadly.
November 06, 2024 | 4:45 pm
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NEGATIVE IMPACT
AAAU, a gold-backed ETF, may see a decline in value as gold prices are pressured by a stronger USDX and rising bond yields.
AAAU is directly linked to gold prices, which are currently under pressure from a stronger USDX and rising bond yields. This typically leads to a decrease in the value of gold-backed ETFs.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80