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2021-07-08

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Gold steady above $1,800/oz as lower yields counter stronger dollar

July 8 (Reuters) - Gold held steady on Thursday as lower U.S. Treasury yields countered a stronger d

Gold steady above $1,800/oz as lower yields counter stronger dollar

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brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625707802,"share":"https://ttm.financial/m/news/2149314155?lang=en_US&edition=fundamental","pubTime":"2021-07-08 09:30","market":"hk","language":"en","title":"Gold steady above $1,800/oz as lower yields counter stronger dollar","url":"https://stock-news.laohu8.com/highlight/detail?id=2149314155","media":"Reuters","summary":"July 8 (Reuters) - Gold held steady on Thursday as lower U.S. Treasury yields countered a stronger d","content":"<p>July 8 (Reuters) - Gold held steady on Thursday as lower U.S. Treasury yields countered a stronger dollar after minutes from the Federal Reserve's last meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year.</p>\n<p>FUNDAMENTALS</p>\n<p>* Spot gold was little changed at $1,803.01 per ounce, as of 0109 GMT.</p>\n<p>* U.S. gold futures&nbsp;edged 0.1% higher to $1,804.30 per ounce.</p>\n<p>* Benchmark U.S. 10-year Treasury yields dropped to their lowest since Feb. 19, reducing the opportunity cost of holding non-interest bearing gold.</p>\n<p>* However, the dollar index traded near the highest in three months versus its rivals, making gold more expensive for other currency holders.</p>\n<p>* Fed officials last month felt substantial further progress on the U.S. economic recovery \"was generally seen as not having yet been met,\" but agreed they should be poised to act if inflation or other risks materialised, according to the minutes of the central bank's June policy meeting.</p>\n<p>* A new rise in coronavirus infections driven by the more virulent Delta variant could cause consumers to \"pull back\" and slow the U.S. recovery, Atlanta Federal Reserve President Raphael Bostic said.</p>\n<p>* The European Central Bank will on Thursday announce the outcome of an 18-month strategy review, redefining its inflation target and laying down what role it plans to play in the fight against climate change.</p>\n<p>* SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2% to 1,040.48 tonnes on Wednesday from 1,042.23 tonnes on Tuesday.</p>\n<p>* The Perth Mint's gold sales fell to an eight-month low in June but were higher year-on-year, while silver sales jumped to their highest level in more than a year, the refiner said in a blog post.</p>\n<p>* Silver eased 0.2% to $26.07 per ounce, palladium</p>\n<p>fell 0.1% to $2,847.97, and platinum slipped 0.4% to $1,080.37.</p>\n<p>DATA/EVENTS <a href=\"https://laohu8.com/S/GMT\">$(GMT)$</a> 1200 Brazil IPCA Inflation Index MM&nbsp;June 1230 US Initial Jobless Claim weekly</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-08 09:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>July 8 (Reuters) - Gold held steady on Thursday as lower U.S. Treasury yields countered a stronger dollar after minutes from the Federal Reserve's last meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year.</p>\n<p>FUNDAMENTALS</p>\n<p>* Spot gold was little changed at $1,803.01 per ounce, as of 0109 GMT.</p>\n<p>* U.S. gold futures&nbsp;edged 0.1% higher to $1,804.30 per ounce.</p>\n<p>* Benchmark U.S. 10-year Treasury yields dropped to their lowest since Feb. 19, reducing the opportunity cost of holding non-interest bearing gold.</p>\n<p>* However, the dollar index traded near the highest in three months versus its rivals, making gold more expensive for other currency holders.</p>\n<p>* Fed officials last month felt substantial further progress on the U.S. economic recovery \"was generally seen as not having yet been met,\" but agreed they should be poised to act if inflation or other risks materialised, according to the minutes of the central bank's June policy meeting.</p>\n<p>* A new rise in coronavirus infections driven by the more virulent Delta variant could cause consumers to \"pull back\" and slow the U.S. recovery, Atlanta Federal Reserve President Raphael Bostic said.</p>\n<p>* The European Central Bank will on Thursday announce the outcome of an 18-month strategy review, redefining its inflation target and laying down what role it plans to play in the fight against climate change.</p>\n<p>* SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2% to 1,040.48 tonnes on Wednesday from 1,042.23 tonnes on Tuesday.</p>\n<p>* The Perth Mint's gold sales fell to an eight-month low in June but were higher year-on-year, while silver sales jumped to their highest level in more than a year, the refiner said in a blog post.</p>\n<p>* Silver eased 0.2% to $26.07 per ounce, palladium</p>\n<p>fell 0.1% to $2,847.97, and platinum slipped 0.4% to $1,080.37.</p>\n<p>DATA/EVENTS <a href=\"https://laohu8.com/S/GMT\">$(GMT)$</a> 1200 Brazil IPCA Inflation Index MM&nbsp;June 1230 US Initial Jobless Claim weekly</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149314155","content_text":"July 8 (Reuters) - Gold held steady on Thursday as lower U.S. Treasury yields countered a stronger dollar after minutes from the Federal Reserve's last meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year.\nFUNDAMENTALS\n* Spot gold was little changed at $1,803.01 per ounce, as of 0109 GMT.\n* U.S. gold futures edged 0.1% higher to $1,804.30 per ounce.\n* Benchmark U.S. 10-year Treasury yields dropped to their lowest since Feb. 19, reducing the opportunity cost of holding non-interest bearing gold.\n* However, the dollar index traded near the highest in three months versus its rivals, making gold more expensive for other currency holders.\n* Fed officials last month felt substantial further progress on the U.S. economic recovery \"was generally seen as not having yet been met,\" but agreed they should be poised to act if inflation or other risks materialised, according to the minutes of the central bank's June policy meeting.\n* A new rise in coronavirus infections driven by the more virulent Delta variant could cause consumers to \"pull back\" and slow the U.S. recovery, Atlanta Federal Reserve President Raphael Bostic said.\n* The European Central Bank will on Thursday announce 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