PT Solid Gold Berjangka | Gold Steady After Modest Advance as Treasury Yields Decline

01:08 29 August in Commodity, SOLID GOLD BERJANGKA | SOLID GROUP

Gold was steady in Asia after rising Monday as yields on Treasuries fell on strong demand at a US debt auction.

That came after yields on shorter-dated US bonds rose last week in anticipation of another Federal Reserve rate increase. Higher yields are typically negative for bullion, which doesn’t generate interest.

US jobs data due Friday is forecast to show cooling employment growth and moderating wage increases in August, which may reduce the need for another rate hike.

Spot gold rose 0.1% to $1,922.06 an ounce as of 8:14 a.m. in Singapore. The Bloomberg Dollar Spot Index declined 0.1%. Silver and palladium were flat, while platinum slipped.

Source : Bloomberg


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