Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
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Gold gains footing as U.S. bond yields, dollar slip
Gold last traded at $1,781 an ounce. Silver at $23.87 an ounce.
NEWS SUMMARY: Precious metal prices fell Friday as interest rates and the dollar were boosted by inflation data. U.S. stocks slipped as shares of major technology companies suffered following disappointing earnings reports.
Reuters--"Gold prices edged higher in seesaw trading on Wednesday, buoyed by a fall in U.S. bond yields and a softer dollar....
'We are in a consolidation period for gold, but I think that eventually the policy tightening and inflation concerns should be positive for the metal,' said Edward Moya, senior market analyst at brokerage OANDA....
Helping gold, the dollar index dipped 0.2% against its rivals. Benchmark 10-year U.S. Treasury yields slipped below 1.6% to a near two-week low, decreasing the opportunity cost of holding non-yielding bullion.
Investors are now awaiting the U.S. Federal Open Market Committee policy meeting on Nov. 3 for more clues on the tapering timeline."
