Gold prices claw back as US Treasury yields retreat
18 Feb 2021
Picture used for illustrative purpose. File
Gulf Today Report
Gold prices on Thursday inch higher following a decline in US Treasury yields, lifting the non-yielding bullion’s appeal.
Spot gold was up 0.4% at $1,782.64 per ounce by 03:36 GMT while US gold futures gained 0.6% to $1,783.10.
Jeffrey Halley, OANDA senior market analyst said, "the US long-dated yields backing off this week's highs is offering some support. It also appears dip buyers from China returned from Lunar New Year holidays."