By Gina Lee

Investing.com – Gold was up on Thursday morning in Asia, boosted by a fall in U.S. bond yields. However, strong risk appetite in equity markets kept bullion’s gains in check.

The climbed 0.13% to $1.801.15 at 12:14 ET (4:14 GMT). It is still above $1,800. While the indices, which move in inverse proportion to gold, climbed on Thursday, benchmark 10-year U.S Treasury yields dropped to an almost two-week low.

“We are in a consolidation period for gold, but I think that eventually the policy tightening and inflation concerns should be positive for gold,” OANDA senior market analyst Edward Moya told Reuters.

“Earnings have been fairly impressive, and that is surprising a lot of people… U.S. tech stocks are a favorite place to go for many investors, which is dampening the demand for a safe haven right now,” he added.

Now investors await and meeting expected later in today. According to Reuters both central banks expect to maintain policy with the ECB unlikely to back down against expectation for an interest rate rise in 2022. The November 3rd meeting will provide more details on the timeline for asset tapering.

The price of silver, platinum, palladium, and other precious metals was $24.04 per an ounce.