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Gold prices have touched for more than a week
High on Monday, the greenback-price supported a simplification dollar
Bullion, though rising US Treasury yields capped gains.
Fundamentals
* Spot gold rose 0.3% to $ 1,850.39 per ounce, 0039
GMT, their highest since May 12. US gold futures too
0.3% to 1,847.90.
* Dollar week starts on the back foot,
After the first weekly loss in about two months, e.g.
Investors are betting on more dollar gains from rising US rates
And hopefully easing the lockdown in China could help global growth.
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* A weaker dollar makes bullion more attractive abroad
Buyers
* However, the benchmark US 10-year Treasury yield has strengthened,
Limiting the demand for zero-yield gold.
* James Bullard, President of the Federal Reserve Bank of St. Louis
Last week he reiterated his view that the US Federal Reserve should
Raising interest rates to 3.5% this year to get higher inflation
More rapid control.
* Bullion, seen as a secure store of value during the period
The economic crisis has become less attractive to investors
When US interest rates are raised because it yields no results
Interests.
* Asian stocks faced an uncertain start on Monday
Fear of persistent inflation and the possibility of rising interest rates
The rate dogged the world economic outlook.
* SPDR Gold Trust, the world’s largest gold-backed
The exchange-traded fund said its holdings rose 0.69% to 1,063.43.
1,056.18 tons on Thursday to tons on Friday.
* Spot Silver rose 0.7% to 21.90 an ounce,
Platinum strong 0.3% to $ 958.43, and palladium
0.8% at $ 1,979.27.
Data / Events (GMT)
0800 Germany Ifo Business Climate New May
0800 Germany Ifo Current Status New May
0800 Germany Ifo Expectations New May
1300 Euro zone finance ministers meet on revenue rules
Reform, Banking Union in Brussels
(Reporting by Bharat Govinda Gautam in Bangalore; edited by
Uttaresh.v)
