Gold dips as rising U.S. Treasury yields fend off safe-haven investors

04.03.2021 - Evdokimov Roman
Gold dips as rising U.S. Treasury yields fend off safe-haven investors

Thursday trade in Asia had seen gold dipping as rising U.S. Treasury yields fended off investors of the precious metal despite its rise from a nine-month low it posted the previous session.

Gold futures declined 0.23% at $1,711.90, with the dollar racking up some gains on Thursday as it normally moves inversely to gold.

Benchmark U.S. Treasury yields posted some 1.5% increase, improving the opportunity cost of holding bullion.

The recovery of the world’s largest economy continued at a slow pace over the first weeks of this year, according to the report released by the Beige Book on Wednesday.

 Meanwhile, Perth Mint said on Wednesday that gold sales spiked to their highest in at least nine years in February, as well as silver sales.

In other precious metals, silver was up 0.4%, while platinum and palladium lowered 0.5% and 0.3% respectively.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?