Gold rebounds as US yields slow down
Gold prices rose in European trade, recouping after hefty losses yesterday, as US yields slow down ahead of important statements by Fed officials.
Gold Prices
Gold rose 0.6% to $1,865 an ounce, after tumbling 1.55% yesterday, as the dollar index hits 20-year highs.
US Bonds
US 10-year treasury yields fell 1.9% today away from four-year highs at 3.203% on active profit-taking, as bets on a massive June rate hike wane.
Fed officials have hinted that a 75 basis points hike in June is unlikely, with investors awaiting crucial inflation data tomorrow.
Estimates
Gold continues to face a bearish trend overall as the Fed is expected to tighten the policy and push US treasury yields higher throughout the year.
The SPDR
Gold holdings at the SPDR fell 6.1 tones yesterday to a total of 1,075 tones, the lowest since March 17.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.0424
|
-0.0121
|
1.1466%
|
|
|
|
|
1.2227
|
-0.0122
|
0.9895%
|
|
|
|
|
21.097
|
-1.027
|
4.640%
|
|
|
|
|
110.200
|
3.043
|
2.840%
|
|
|
|
|
109.97
|
-1.64
|
1.47%
|
|
|
|
|
1799.385
|
-69.475
|
3.717%
|
|
