Commodity

Gold rises on inflation worries after US stimulus approval

By Administrator_ India

Capital Sands

Gold prices gained on Monday as the passage of a U.S. stimulus bill stoked inflation risks, although a resultant bounce in Treasury yields kept gains in check.

FUNDAMENTALS

* Spot gold rose 0.3% to $1,732.02 per ounce by 0134 GMT, while U.S. gold futures for April delivery rose 0.7% to $1,730.90 per ounce.

* Yields on benchmark 10-year notes held near their highest in more than a year on continued U.S. economic optimism after a $1.9 trillion recovery package was signed into law last week.

* Gold is generally considered a hedge against inflation, although higher bond yields have challenged that status recently as they increase the opportunity cost of holding non-yielding bullion.

Related posts
Commodity

Crude oil tops $100 as Russian forces invade Ukraine; Gold prices rise sharply

Global crude oil and gold prices soared on February 24 after Russian President Vladimir Putin…
Read more
Commodity

Equities & oil prices sink as Omicron makes waves

By Administrator_India Capital Sands Asian share markets fell and oil prices slid on Monday…
Read more
Commodity

Saudis cut oil prices to woo buyers as OPEC+ boosts supply

By Administrator_ India Capital Sands Saudi Arabia cut oil prices for sales to Asia next month by…
Read more
Newsletter
Become a Trendsetter
Sign up for Davenport’s Daily Digest and get the best of Davenport, tailored for you. [mc4wp_form id="729"]

Leave a Reply

Your email address will not be published. Required fields are marked *