Gold News – 17.May.2024

Gold News

Gold prices (XAUUSD) remained strong, trading near $2,385 after a slight decrease from the previous day’s high of $2,397 per ounce.

The Dow Jones Industrial Average failed to maintain its position above 40,000 for the first time, with all three major US stock indexes closing lower.

A shift in investor sentiment led to a move towards the US dollar and away from riskier assets, possibly due to risk aversion or profit-taking.

The yield on the 10-year Treasury note rose to 4.376%, ending a three-day decline, influencing consumer interest rates for mortgages and credit cards.

The S&P 500 and Nasdaq Composite reached new intraday highs but ultimately retreated, ending the day lower alongside the Dow Jones.

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