By Gina Lee

Investing.com – Gold was up on Wednesday morning in Asia, boosted by retreating U.S. Treasury yields. Investors will now be awaiting U.S. inflation data and Chinese information later in this week.

They were at $1,790.45 as of 9:34 ET (23:34 GMT) and had risen 0.32% by that time. Ten-year Treasury yields and 30 year Treasury yields have retreated from Tuesday’s one week highs.

The U.S. data is due to investors on Friday. The day before, Chinese inflation data including the is due.

Later in the day the The will announce its policy decision, while the.. and will follow suit with their policies decisions over the next week.

Inflation in Eurozone could be higher than the ECB’s long-term forecast, therefore there’s no need to increase a legacy bond buying program now that an emergency programme ends in March.

The BOE might delay being the central bank that raises interest rates, as the BOE discovered the omicron COVID-19 variation.

On the Fed side, U.S. President Joe Biden plans to put forward more nominees for open positions on the central bank’s board by the end of December 2021.

Investors monitor geopolitical tensions in response to “strong economic, and other” measures if Russia invades Ukraine.

Silver edged up 0.2% while platinum rose 0.3%, and palladium rose 0.1% in other precious metals. According to Metals Focus, the 2022 average price for gold, silver and platinum will almost be the same as 2021. However, the 2022 average palladium price will decrease.