FINWIRES · TerminalLIVE
FINWIRES

Update: Gold Falls as the Dollar Climbs to the Highest in More Than a Year

By

(Updates prices in the second paragraph.)

Gold fell for a third session midafternoon on Tuesday as the dollar continued to climb after the Federal Reserve last week warned interest rates may rise as inflation continues to run ahead of its 2% target.

Gold for August delivery was last seen down US$52.90 to US$4,149.20 per ounce.

The price of the metal has dropped more than 5% since the Federal Reserve's policy committee on Wednesday ended its two-day meeting leaving interest rates unchanged but warned of a potential coming rate hike as inflation surges due to rising energy costs following the U.S.-Iran war, boosting the dollar.

"Traders and investors continue to adjust to the risk of higher funding costs amid the Fed's focus on inflation and price stability," Saxo Bank wrote.

The dollar rose to the highest since since March 2025, with the ICE dollar index last seen up 0.39 points to 101.41. Treasury yields weakened, with the U.S. two-year note last seen down 4.5 basis points to 4.194%, while the 10-year note was paying 4.49%, down 2.6 points.

Related Articles

Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.5%.The Philadelphia Housing Index shed 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) gained 1.3%.Bitcoin (BTC-USD) was adding 0.3% to $64,280, and the yield for 10-year US Treasuries rose 5.8 basis points to 4.509%.In corporate news, Carlyle (CG) is working with its portfolio managers to proactively evaluate and then possible de-risk assets from weather-related damages, Bloomberg reported. Carlyle shares were down 0.3%.Morgan Stanley (MS) has identified two sites within the city of Dallas for a phased approach to establishing a large-scale operational hub, according to a city document. Morgan Stanley shares rose 1.8%.Lloyds (LYG) is preparing for a potential bid to buy Aldermore, which has been put up for sale by its parent company FirstRand Group, Sky News reported. Lloyds shares climbed up 3.5%.Robinhood (HOOD) shares fell 2.2% after the company said it plans to offer $2 billion worth of convertible senior notes due 2029 in a private placement.

$CG$HOOD$LYG$MS
Sectors

Sector Update: Tech Stocks Advance Late Afternoon

Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.6%.The Philadelphia Semiconductor index rose 1.3%.In corporate news, Micron Technology (MU) shares gained 5% after it said Monday it is collaborating with Anthropic for memory and storage AI architecture design, product supply, and enterprise adoption of Claude, alongside an investment in Anthropic's series H funding round.Dell (DELL) shares climbed 1.6% after it introduced the PowerEdge XE8812, a new server designed to handle large AI-computing workloads and built with Nvidia's (NVDA) Vera Rubin platform.Alphabet's (GOOGL) Google DeepMind data scientist and Nobel Prize winner John Jumper is leaving to join Amazon (AMZN) and Alphabet-backed Anthropic, he said Friday. Alphabet shares were down 5.2%.STMicroelectronics (STM) shares rose 1.6% after the company said it released a new 3-dimensional light detection and ranging module designed for AI applications on small computing devices.

$DELL$GOOGL$MU$STM
Sectors

Sector Update: Healthcare Stocks Rise Late Afternoon

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.8%.The iShares Biotechnology ETF (IBB) climbed 1.7%.In corporate news, AbbVie (ABBV) has agreed to acquire Apogee Therapeutics (APGE) in an all-cash deal worth about $10.9 billion, as the drugmaker looks to boost its immunology portfolio and accelerate its clinical presence in the respiratory segment. AbbVie shares jumped past 6%, and Apogee surged 46%.Regenxbio (RGNX) shares jumped 18% after it said the US Food and Drug Administration has agreed on the next steps for a potential accelerated approval of Navsunli, its experimental gene therapy for Mucopolysaccharidosis II, following discussions related to its appeal of a complete response letter issued in February.Jaguar Health (JAGX) shares climbed 16% after the firm said Monday its board has started a process to explore strategic alternatives to maximize shareholder value.Vivos Therapeutics (VVOS) shares fell 14% after it said Monday it has extended its strategic financing agreement with Streeterville Capital through Aug. 31, giving it additional time to complete planned capital-raising efforts.

$ABBV$APGE$JAGX$RGNX$VVOS