India

2021-04-06 15:38

IndustryGold hits more than one-week peak as dollar and yields slip
Gold prices climbed to their highest in more than a week on Tuesday as a weaker dollar and a drop in U.S. bond yields boosted demand for the metal. Spot gold was up 0.1% at $1,730.46 an ounce by 0703 GMT after touching its highest since March 25 at $1,737.35. U.S. gold futures rose 0.1% to $1,731.10. "The strong U.S. economic data have eased concerns and have softened the dollar as a safe-haven asset, and gold is being supported because of that," said Michael McCarthy, chief market strategist at CMC Markets. The dollar slumped to an almost two-week low against a basket of rival currencies, making gold cheaper for buyers outside the United States. Benchmark U.S. Treasury yields slipped, moving further away from a 14-month peak hit last week, reducing the opportunity cost of holding non-yielding gold. Better than expected recent economic readings out of the United States, meanwhile, have lifted hopes of swift recovery and drove investors towards riskier assets.
Like 1
I want to comment, too

Submit

0Comments

There is no comment yet. Make the first one.

FX1641490553
Trader
Hot content

Industry

Event-A comment a day,Keep rewards worthy up to$27

Industry

Nigeria Event Giveaway-Win₦5000 Mobilephone Credit

Industry

Nigeria Event Giveaway-Win ₦2500 MobilePhoneCredit

Industry

South Africa Event-Come&Win 240ZAR Phone Credit

Industry

Nigeria Event-Discuss Forex&Win2500NGN PhoneCredit

Industry

[Nigeria Event]Discuss&win 2500 Naira Phone Credit

Forum category

Platform

Exhibition

Agent

Recruitment

EA

Industry

Market

Index

Gold hits more than one-week peak as dollar and yields slip
India | 2021-04-06 15:38
Gold prices climbed to their highest in more than a week on Tuesday as a weaker dollar and a drop in U.S. bond yields boosted demand for the metal. Spot gold was up 0.1% at $1,730.46 an ounce by 0703 GMT after touching its highest since March 25 at $1,737.35. U.S. gold futures rose 0.1% to $1,731.10. "The strong U.S. economic data have eased concerns and have softened the dollar as a safe-haven asset, and gold is being supported because of that," said Michael McCarthy, chief market strategist at CMC Markets. The dollar slumped to an almost two-week low against a basket of rival currencies, making gold cheaper for buyers outside the United States. Benchmark U.S. Treasury yields slipped, moving further away from a 14-month peak hit last week, reducing the opportunity cost of holding non-yielding gold. Better than expected recent economic readings out of the United States, meanwhile, have lifted hopes of swift recovery and drove investors towards riskier assets.
Like 1
I want to comment, too

Submit

0Comments

There is no comment yet. Make the first one.

Select Country/District
  • Hong Kong

    hk.wikifx.com

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

Hong Kong
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;+44-7517747077
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:3313198376@qq.com