Gold holds ground as easing Treasury yields lift appeal

Spot gold was unchanged at $2,250.26 per ounce, as of 0059 GMT, after hitting an all-time high of $2,265.49 on Monday.

held steady on Tuesday backed by lower , after touching a record high in the previous session on growing expectations that the Reserve would cut for the first time in June.

FUNDAMENTALS

* Spot gold was unchanged at $2,250.26 per ounce, as of 0059 GMT, after hitting an all-time high of $2,265.49 on Monday.

* U.S. gold futures edged 0.6% higher to $2,270.70 per ounce.

* Benchmark U.S. 10-year Treasury yields dipped, lifting the appeal of zero-yield gold.

* U.S. manufacturing grew for the first time in 1-1/2 years in March, as production rebounded sharply and new orders increased, but employment at factories remained subdued and prices for inputs pushed higher.

* The Bank of New York said on Monday that underlying weakened in February.

* Factory activity in many Asian economies weakened in March but there were some brighter signs in China and South Korea, surveys and data showed.

* Australia's central bank intends to change the way it provides liquidity to the banking system, moving to one that provides ample liquidity through regular money market operations.

* Traders are pricing in a 57% probability that the Fed will begin cutting rates in June, according to the CME Group's FedWatch Tool. Lower interest rates reduce the opportunity cost of holding bullion.

* Spot silver rose 0.4% to $25.17 per ounce, platinum rose 0.2% to $903.50 and palladium gained 0.4% to $1,000.09.

Source: Commodities-Markets-Economic Times

Последние публикации
Exxon group pulls out of talks with Guyana over shallow water oil block, government says
21.11.2024 - 23:00
Exxon Mobil pulls out of talks with Guyana over shallow water oil block, gov says
21.11.2024 - 22:00
EU to cajole Trump on trade while readying tariff retaliation
21.11.2024 - 18:00
New York grid operator warns of undersupply in 2033
21.11.2024 - 18:00
Analysis-Trade demands clash with climate agenda at COP29 talks
21.11.2024 - 17:00
Crude and diesel prices gaining but rangebound: Citi
21.11.2024 - 16:00
Oil prices soars as Russia, Ukraine exchange missile strikes
21.11.2024 - 16:00
Oil up 2% after Russia-Ukraine missile exchange, outweighing US crude stock rises
21.11.2024 - 14:00
Nvidia sees past triple-digit growth
21.11.2024 - 13:00
Oil up on Russia-Ukraine missile exchange, outweighing US crude stock rises
21.11.2024 - 12:00
Oil prices climb as geopolitical tensions outweigh US inventories
21.11.2024 - 10:00
Container shippers hedging green transition with dual-fuel vessel orders
21.11.2024 - 07:00
Gold prices rise as Russia-Ukraine tensions fuel haven demand
21.11.2024 - 07:00
Oil prices edge up on geopolitical tensions; higher-than-expected US inventories cap gains
21.11.2024 - 06:00
Oil prices rise as Russia-Ukraine tensions offset US inventory build
21.11.2024 - 05:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?