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Gold Treads Water as Investors Await U.S. Inflation Report

10Jun

By Administrator_IndiaNo Comments

Gold

Gold Treads Water as Investors Await U.S. Inflation Report

By Administrator_India Capital Sands Gold steadied as investors await Thursday’s U.S. inflation report that may provide clues on the Federal Reserve’s monetary policy path. On Wednesday, the 10-year Treasury yield fell below 1.5% for the first time in a month, helped by a strong auction, while the rate on the U.S. long bond dropped to a level unseen since early March. This suggests that the Fed’s assurances that elevated inflation was probably temporary are gaining acceptance from investors. Traders are also awaiting the European Central Bank decision Thursday, with policy makers having all the evidence they need to keep in place their ultra-loose monetary stimulus, thanks in part to their opposite numbers at the Fed. Bullion has been largely treading water this week with in...

UK PM Boris Johnson says too early to say when national lockdown will end

By Administrator_India Capital Sands Boris Johnson: The new strain of coronavirus and the fresh set of crises brought forth by it for the United Kingdom apart, UK Prime Minister Boris Johnson hasn't been viewed too positively for his handling of the pandemic, if reports are to be believed. In March he had said that he is shaking hands "continuously" and that he did, in fact, shook hands "with everybody" at a hospital with coronavirus patients. By the end of that month, he had tested positive for the virus, and was hospitalised in April. Ever since, 2020 has been a year of intermittent lockdowns for the UK, with the latest lockdown being imposed after a fast-spreading variant of coronavirus was detected. It is too early to say when the national COVID lockdown in England will end, Bri...

Gold falls on firm dollar, U.S. economy re-open hopes

By Administrator_India Capital Sands Gold prices fell to a more than one-week low on Monday as the dollar firmed and as investors remained optimistic that the U.S. economy might reopen soon from lockdowns that were enforced to contain the novel coronavirus’ spread. * Spot gold fell 0.5% to $1,675.92 per ounce by 0038 GMT, having touched its lowest since April 9 earlier in the session. The metal slumped about 2% on Friday. * U.S. gold futures slipped 0.7% to $1,687.20. * The dollar strengthened 0.1% against key rivals, making gold costlier for investors holding other currencies. * Caution gripped Asian share markets on expectations of a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown. * Governors in...