Stock Groups

Gold Down, but Caps Losses as U.S. Bond Yields Ease By Investing.com


© Reuters.

By Gina Lee

Investing.com – Gold was down on Monday morning in Asia, recouping some losses after a steep sell-off during the previous session as U.S. bond yields eased.

However, it was down 0.3% to $1.767.75 at 11:49PM ET (3:49 GMT) – recouping losses from Friday’s slide of 1.6%

After rising to an all-time high of 1.5904% Monday, the benchmark fell. The, which is usually inversely related to gold, edged higher on Monday. However, it slipped 0.6% from the previous week’s 20212 highs, capping the yellow metal’s losses.

Although investors are betting that inflation could mean earlier-than-expected interest rate hikes from the U.S. Federal Reserve, other central banks might be less aggressive over the tightening cycle. Andrew Bailey, Bank of England governor, stated on Sunday that inflation risk is increasing and the bank was preparing for an interest rate increase.

SPDR Gold Trust (P) GLD(NYSE:) reported its holdings falling 0.3% from 982.22 tons the day prior to 981.10.

Meanwhile, showed that GDP grew a smaller-than-expected 0.2% and 4.9% in the third quarter of 2021. Also, the data showed that GDP increased 3.1% over the previous year and 4.4% for September. Meanwhile, it was at 4.9%.

Silver edged up 0.2% in other precious metals. Platinum declined 0.4%, to $1050.80. Palladium declined 0.7%.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, futures, indexes or Forex. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. Because prices might not reflect the market, they may be incorrect. This means that prices cannot be considered indicative and are inappropriate for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.