Gold declines as US Treasury yields advance
- Date: 22-Jan-2021
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Gold declines as US Treasury yields advance
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Gulf Today Report
Gold slipped on Friday as US Treasury yields gained, but hope for a large US stimulus kept the metal on course for its best week in five.
Spot Gold fell 0.3% to $1,863.56 per ounce while US Gold futures declined by 0.1% to $1,863.90.
Kyle Rodda, IG Market analyst said, "gold is struggling a bit due to a lift in nominal yields, which came off the back of strong US jobless claims number, also the European Central Bank (ECB) came out a little less dovish than the market would like."
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