Gold prices ease as US yields inch up - GulfToday

Gold prices ease as US yields inch up

  • 15 Feb 2021
Gold-new-general-main4-750

Picture used for illustrative purpose. File

Gulf Today Report 

Gold declined on Monday due to the jump in US Treasury yields to their highest in 11 months.

Spot Gold fell 0.1% to $1,821.84 per ounce by 00:41 GMT while US Gold futures slipped 0.1% to $1,822.30.

 Benchmark US Treasury yields reached their highest since March, expectations of inflation edged up to a six-year high. 

READ MORE 

Elon Musk supports dogecoin holders selling their coins

Ngozi Okonjo-Iweala set to be first woman to lead WTO

Enoc Group's expansion strategy continues

Inflation boosts gold, pushes Treasury yields up, which increases the opportunity cost of holding bullion.

US Treasury Secretary Janet Yellen on Friday urged G7 finance leaders to "go big" with additional fiscal stimulus to recover from the COVID-19 pandemic.

Demand for physical gold in India fell last week due to volatility in domestic prices.

Related articles

Gold extends gains after Trump tests positive for COVID-19

Spot gold was up 0.5% at $1,915.34 per ounce by 0645 GMT, reversing losses from early Asian trade. US gold futures rose 0.3% to $1,922.20.

02 Oct 2020

Gold steadies as investors await stimulus

Spot gold was steady at $1,839.54 per ounce by 04:44 GMT, after slipping as much as 2.5% on Wednesday. US gold futures gained 0.2% to $1,843.00.

10 Dec 2020

Gold declines as equities gain

Spot gold fell 0.7% to $1,858.80 per ounce by 06:00 GMT, after hitting its highest since Nov. 23 at $1875.07 on Tuesday, while US gold futures fell 0.6% to $1,864.00 per ounce.

09 Dec 2020

Gold prices gain as President Trump threatens the US stimulus package

Spot gold rose 0.3% to $1,865.01 per ounce by 03:33 GMT, while US gold futures were steady at $1,869.80.

23 Dec 2020

Most Popular Stories

Other Articles

UAE, Costa Rica inaugurate new trade, investment era under CEPA

Rodrigo Chaves Robles, President of Costa Rica, received Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, in the Costa Rican capital,

17 hours ago

IMF tells Asian central banks not to follow Fed too closely

The International Monetary Fund urged Asian central banks to focus on domestic inflation and avoid tying their policy decisions too closely to anticipated moves by the U.S. Federal Reserve.

17 hours ago

Aldar Properties partners with Siemens to make Saadiyat Grove

Aldar Properties has announced a partnership with Siemens to make Saadiyat Grove, an integrated mixed-use project under development in the cultural heart of Abu Dhabi,

17 hours ago

Growth of family offices to boost realty growth

Growth of family offices are happening globally. Family with huge funds are relocating to cities where wealth preservation, financial stability

17 hours ago