The Dollar Index – a measure of the US currency s value versus its major peers on the forex market – advanced for the 4th consecutive session to its strongest so far in 2021. The yield on the benchmark 10-year US Treasury yield climbed to 1.617%, the highest since February 2020 Monday morning. Gold has despite a stronger USD and higher real yields managed to bounce from key support at $1688, said derivatives platform Saxo Bank s commodity strategist Ole Hansen. The recent rise in interest rates and the strength of the Dollar have made for a difficult environment for gold, agrees bullion-bank ICBC Standard s former Tokyo manager Bruce Ikemizu, now chief director of the
Monday, 3/01/2021 14:56
GOLD PRICES edged higher Monday but cut an earlier rally from 8-month lows as global bond markets stabilised from last week s rout and central bankers across the world reassured investors that they will continue their low rate and QE money creation policies,
writes Atsuko Whitehouse at BullionVault. With the Reserve Bank of Australia again buying Canberra s debt in the open market to support prices and stem the rise in yields, new US President Joe Biden moved to the next stage of getting his $1.9 trillion coronavirus relief package approved by the Senate before some unemployment support measures run out in two weeks time.
Monday, 12/21/2020 14:39
GOLD PRICES spiked above $1900 per ounce in Asian trade Monday, jumping to 6-week highs after lawmakers in Washington agreed to $900 billion package of pandemic aid, including money for businesses and unemployment programmes after months of wrangling, writes Atsuko Whitehouse at BullionVault. Gold priced in non-Dollar currencies then held onto sharp gains but the US price sank over $50 per ounce and global stock markets fell as the Covid Crisis saw European nations shut all travel and traffic with the UK – the world s 5th largest economy – where a new strain of Covid-19 forced the Government to impose new lockdown restrictions and ban any Christmas gatherings across most of the country.