April 20, 2021

Gold: Gold slips from 1-week peak as rising US bond yields weigh



March 11: Gold costs inched down after hitting a greater than one-week peak on Thursday, as elevated U.S. Treasury yields continued to stay a headwind for the valuable steel.

FUNDAMENTALS

* Spot gold was down 0.1% to $1,725.17 per ounce by 0043 GMT, after hitting its highest since March Three at $1,727.65 earlier within the session. U.S. gold futures rose 0.1% to $1,724.20.

* Benchmark U.S. Treasury yields edged greater, growing the chance value of holding the non-interest yielding bullion.

* U.S. shopper costs elevated solidly in February, with households paying extra for gasoline, however underlying inflation remained tepid amid weak demand for companies like airline journey and lodge lodging.

* The Home of Representatives gave closing approval on Wednesday to one of many largest financial stimulus measures in U.S. historical past, a sweeping $1.9 trillion COVID-19 aid invoice that offers President Joe Biden his first main victory in workplace.

* The European Central Financial institution is more likely to sign sooner cash printing on Thursday to maintain a lid on borrowing prices however it would cease wanting including firepower to its already aggressive pandemic-fighting bundle.

* Rising Treasury yields, a greenback rebound and commodity costs at multi-year highs could also be beginning to feed right into a tightening of world monetary circumstances, testing the resolve of central bankers to reverse the strikes by offering extra assist.

* Silver eased 0.2% to $26.10 an oz. Palladium was down 0.3% to $2,299.85. Platinum fell 0.8% to $1,192.78.

DATA/EVENTS (GMT) 1245 EU ECB Refinancing Fee March 1245 EU ECB Deposit Fee March 1330 US Preliminary Jobless Clm Weekly 1700 US Federal Reserve points quarterly monetary accounts of the US