The yield on 10-year Treasuries eased slightly on Monday, following a two-day gain from the lowest since March that damped the appeal of the non-interest-bearing precious metal
Topics
Gold Prices | Gold market | Gold trade
Bloomberg
Last Updated at June 15, 2021 23:31 IST
Gold held near the lowest in four weeks in the wake of higher bond yields, as investors awaited a key Federal Reserve meeting for clues on future monetary policy.
The yield on 10-year Treasuries eased slightly on Monday, following a two-day gain from the lowest since March that damped the appeal of the non-interest-bearing precious metal. Bullion traders’ attention will be on the Fed’s two-day meeting which starts Tuesday, as well as comments from central bank Chair Jerome Powell, for signals on a timeline for paring stimulus.
Bullion’s retreat from the highest since January earlier this month came as investors weigh inflation pressures. Expectations are that the Fed won’t signal scaling back bond purchases until August or September, even if it delivers projections for an interest-rate liftoff in 2023, according to economists surveyed by Bloomberg.
Spot gold was little changed at $1,865.75 an ounce at 1:54 p.m. in London. Prices slid as low as $1,844.92 on Monday, the lowest since May 17. Silver and platinum dropped, while palladium steadied. The Bloomberg Dollar Spot Index rose 0.2 per cent.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Tue, June 15 2021. 23:31 IST
read the full story about Gold holds near 4-week low with focus on key Federal Reserve meeting
#theheadlines #breakingnews #headlinenews #newstoday #latestnews #aajtak #ndtv #timesofindia #indiannews