Gold prices steadied near a two-month high on Thursday, a whisker away from the key $1,800 threshold as the U.S. dollar faltered with easing Treasury yields, while supply concerns kept palladium anchored near last session s record peak. Spot gold was little changed at $1,792.66 per ounce by 0707 GMT, after hitting its highest since Feb. 25 at $1,797.67. U.S. gold futures were flat at $1,793 per ounce. What s obviously underpinning the upswing (in gold) is the dynamic in U.S. Treasuries . which is sort of pushing lower in the very short term, said IG Market analyst Kyle Rodda, adding that a drop below 1.5% in yields could help push gold above $1,800, a key psychological level.
Thursday, 1/28/2021 14:43
SILVER PRICES leapt and gold bullion rallied Thursday lunchtime in London after new US data said the world s largest economy expanded in line with analyst forecasts at the end of 2020 but inflation was much weaker than expected. Western stock markets struggled after yesterday s steep drop on Wall Street ahead of the Federal Reserve s no change decision on monetary policy. US and other major government bond prices then dropped, edging long-term interest rates higher, as GDP growth met Wall Street s 4.0% consensus figure. But gold regained the week s earlier 1.3% loss for Dollar investors after core PCE inflation for the fourth quarter came in at 1.5%, sharply down from Q3 s reading of 3.7%.