Gold prices have touched for more than a week
High on Monday, a facilitation continued to support the dollar
Greenback-priced bullion, albeit high U.S. Treasury yields
Spot gold rose 0.2% to 8 1,848.96 per ounce, by 0201
GMT. Prices hit their highest hit since May 12 before 1,853.55
In the session
US gold futures rose 0.4% to 8 1,847.90.
“Whether the jury is still out as gold has been moderated
In the medium term the storm, or (it) is merely assembling in response
A sustainable pullback by the US dollar, ”said OANDA Sr.
Analyst Jeffrey Haley says.
The dollar index started back in the week,
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.
A weaker dollar makes bullion more attractive to foreigners
“Before structurally turning bullish, I have to look
Gold retains its recent gains in the face of dollar strength,
And not the weakness of the dollar, “said Haley.
The benchmark US 10-year Treasury yield, however, has been strong
After losing a three-session streak, demand is limited
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, at the time, was seen as a secure store of value
The economic crisis has become less attractive to investors
When US interest rates are raised because it yields no results
Reflective Feelings, SPDR Gold Trust, World
The largest gold-backed exchange-traded fund says its holdings have risen
Friday 0.69% to 1,063.43 tons to 1,056.18 tons
Spot Silver rose 0.4% to $ 21.84 an ounce, platinum
0.3% to 958.10, and palladium rose 0.7%
(Report by Bharat Govinda Gautam in Bangalore; edited by