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Gold Pulls Back Toward $4,450 as Stronger U.S. Data Revives Rate Risks
Gold prices moved lower during early U.S. trading on Thursday after stronger-than-expected economic data reduced expectations that Treasury yields would continue to decline. At the time of writing, spot gold was trading around $4,454.70 per ounce, down 1.51%, while silver remained relatively strong, gaining about 4.87% to $66.67 per ounce.
U.S. Treasury Yields Rise Again, Stocks Under Pressure as Markets Question Treasury Support
The 30-year U.S. Treasury yield rose to 5.2235%, after earlier falling to 5.1765%. Meanwhile, the benchmark 10-year Treasury yield increased by around 1.9 basis points to 4.6723%, following a 5-basis-point decline in the previous session.
Gold Breaks Above $4,500 as U.S. Long-Term Treasury Yields Ease
Gold surged more than 4% to around $4,519 per ounce on Wednesday after the U.S. Treasury announced plans to increase the size of its long-term debt buyback operations to support market liquidity.
U.S. Dollar Range-Bound as Markets Price in a More Dovish Fed
The U.S. dollar traded in a narrow range against major currencies on Tuesday as markets continued to adjust expectations toward a more cautious Federal Reserve following a series of softer U.S. economic data.
Other articles
Why Gold Stands Apart from the Rest of the Commodity Market
According to Jeremy De Pessemier, Asset Allocation Strategist at the World Gold Council (WGC), gold should not be viewed simply as a conventional commodity. Its unique supply-and-demand structure, high liquidity, and diversification benefits give it a distinct role in strategic asset allocation.
U.S. 30-Year Treasury Yield Hits Highest Level Since 2007 as War and Oil Concerns Intensify
The yield on the 30-year U.S. Treasury rose to its highest level since 2007 on Tuesday, as U.S.-Iran tensions, oil prices above $90 per barrel, and growing concerns over U.S. government debt continued to pressure global bond markets.
Gold and Silver Rise as Oil Surge Pushes Yields Higher and Pressures Equities
Gold and silver prices moved higher in Monday’s U.S. trading session, supported by a weaker U.S. dollar and reduced expectations for further Federal Reserve rate hikes. Meanwhile, a sharp rise in crude oil prices pushed Treasury yields higher and weighed on global equity markets.