Home NewsCommodities News Treasury yields: Gold steady as dollar retreat offsets firmer Treasury yields

Treasury yields: Gold steady as dollar retreat offsets firmer Treasury yields

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Treasury yields: Gold steady as dollar retreat offsets firmer Treasury yields


Gold prices held steady on Tuesday as a pullback in the U.S. dollar supported demand for dollar-denominated gold, although the metal’s strength was partially offset by a recovery in U.S. Treasury yields.

Fundamentals* Spot gold was holding at $1,825.66 an ounce at 0046 GMT. U.S. gold futures rose 0.6% to $1,825.00.

* The dollar index fell for a second straight session, hitting a 20-year high last week, with the global economy in focus after weak economic data from China highlighted concerns over the prospect of a global slowdown.[USD/]

* A weaker dollar makes gold more attractive to buyers of other currencies.

* However, rising yields on the benchmark U.S. 10-year Treasury note limited demand for non-interest bearing gold. [US/] rco

* Gold prices edged higher on Monday, as U.S. Treasury yields lifted prices after falling to 3-1/2-month lows earlier in the day.

* Spot silver was flat at $21.59 an ounce, platinum edged up 0.1% to $946.85 and palladium slipped 0.4% to $2,018.15.

* Improved demand and reduced supply will help palladium and rhodium return to shortages this year and reduce a surplus of platinum, consultancy Metals Focus said on Monday.

Data/Event (GMT) 0600 UK Claimant Count Unem Chng Apr

0600 UK ILO Unemployment Mar

0900 EU GDP Quick Estimate QQ/YY Q1

1230 US Retail Sales MM April

1315 US Industrial Production MM Apr

1700 Remarks by ECB President Christine Lagarde at an event organized by the International Federation of Working Women in Darmstadt, Germany – Darmstadt Club

1800 Federal Reserve Chairman Jerome Powell speaks before Wall Street Journal’s All Things Future Day

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