Gold Advances as Investors Weigh Bond Yields, Retail Sales By Bloomberg – Investing.com

Gold Advances as Investors Weigh Bond Yields, Retail Sales By Bloomberg – Investing.com

(Bloomberg) -- Gold climbed for a third day as investors weighed fluctuations in bond yields and the stall in U.S. retail sales, along with the latest series of lockdowns in Asia to curb spiking coronavirus cases.

The yield on 10-year Treasuries steadied after declining Friday following a report which showed the value of overall retail purchases in the U.S. was essentially unchanged in April, when economists had projected a 1% gain. Federal Reserve Bank of Cleveland President Loretta Mester played down signals from data that she warned will be volatile as the economy reopens and stated that the U.S. central bank’s policy is in a good place right now.