Gold edge higher following decline in US dollar and Treasury yield
- Date: 13-Jan-2021
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Gold edge higher following decline in US dollar and Treasury yield
Picture used for illustrative purpose. File
Gulf Today Report
Gold jumped on Wednesday after the US dollar and Treasury yield declined and hope for a large US fiscal stimulus boosted its appeal.
Spot gold rose 0.1% to $1,857.76 per ounce by 05:37 GMT while US gold futures gained 0.8% to $1,859.20.
IG Market analyst Kyle Rodda said, "the big picture is it's still a very constructive year for gold. With real yields remaining rather negative and the dollar continuing its path lower as the year unfolds, gold remains an attractive proposition."
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