Gold Rally Loses Steam as Treasury Yields Stabilize and Dollar Rebounds
Wednesday, 28 August 2024, 04:36
Market Overview
The gold market experienced a temporary rally, but recent shifts indicate a cooling trend. Stabilizing U.S. Treasury yields and a stronger dollar have halted gold's surge since August 20, 2024.
Impact on Mining Stocks
This change in dynamics has affected several miner stocks:
- Coeur Mining (CDE)
- First Majestic Silver (AG)
- Others include Exk, GDX, GDXJ, Paas, Txg, OgC.
As traders react to these economic signals, the market sentiment remains cautious.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.