Solid Gold Berjangka | Gold Holds Losses After Treasury Yields Rise on US Debt Issuance

01:50 03 August in Commodity, SOLID GOLD BERJANGKA | SOLID GROUP

Gold was little changed, after falling to a three-week low in the previous session as Treasury yields rose on increased US debt issuance and hot labor-market data.

Yields on US 10—year bonds reached their highest since November on Wednesday, with gains spurred by a plan to boost sales of longer-term notes to a more-than-expected $103 billion next week. US companies added more jobs in July than forecast, potentially keeping pressure on the Federal Reserve to maintain rate hikes, which are typically negative for non-interest bearing bullion.

Swaps traders continued to pare bets on another hike at the Fed’s September meeting, although views on the rate trajectory beyond that are divided.

Spot gold rose 0.1% to $1,936.66 an ounce as of 8:12 a.m. in Singapore, after falling 0.5% on Wednesday. The Bloomberg Dollar Spot Index was flat, but is up 1.1% so far this week. Silver and platinum were steady, while palladium slipped.

Source : Bloomberg


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