Report

rss

Iraq News

Kurdistan

Economy

World

All News

Precious-Gold gains as dollar, U.S. Treasury yields lose shine

Category: Economy

Date: 2021-04-06T06:57:28+0000
Precious-Gold gains as dollar, U.S. Treasury yields lose shine

Shafaq News / Gold prices rose on Tuesday to their highest level in more than a week as a weaker dollar and pullback in U.S. bond yields lifted demand for the safe-haven metal, Reuters reported. 

Spot gold was up 0.4% at $1,734.72 per ounce by 0434 GMT after hitting its highest since March 26 at $1,735.30.

U.S. gold futures were also up 0.4% at $1,734.80 per ounce.

The dollar slumped to an almost two-week low versus a basket of rival currencies, making gold cheaper for buyers outside the United States. [USD/]

Benchmark U.S. Treasury yields slipped, moving further away from a 14-month peak hit last week. Lower bond yields reduce the opportunity cost of holding non-interest bearing gold. [US/]

Meanwhile, recent better-than-expected economic readings out of the United States have lifted hopes around swift recovery and drove investors towards riskier assets.

Elsewhere, silver was flat at $24.90 per ounce, while palladium was down 0.4% at $2,654.33 per ounce. Platinum inched down 0.1 %, to $1,207.50 per ounce.

related

Gold heads for first weekly fall in five on dollar strength

Date: 2021-07-23 08:16:39
Gold heads for first weekly fall in five on dollar strength

Including Iraq, Gold reserves of five Arab countries amount to +1,000 tons

Date: 2021-11-13 08:41:55
Including Iraq, Gold reserves of five Arab countries amount to +1,000 tons

Gold prices rise after Biden's win

Date: 2020-11-09 08:21:21
Gold prices rise after Biden's win

Gold hits over one-week low as firm bond yields, dollar weigh

Date: 2022-04-20 07:17:03
Gold hits over one-week low as firm bond yields, dollar weigh

Gold rises 1% on weaker dollar, U.S. stimulus cheer

Date: 2021-03-01 09:24:40
Gold rises 1% on weaker dollar, U.S. stimulus cheer

Gold inched up in Iraq today

Date: 2021-08-30 11:19:03
Gold inched up in Iraq today

Gold prices inched up in the Iraqi capital today

Date: 2022-03-17 10:08:39
Gold prices inched up in the Iraqi capital today

Gold prices in the Iraqi local markets today

Date: 2021-10-06 09:32:48
Gold prices in the Iraqi local markets today