Gold declines due to surge in dollar, Treasury yields
- 12 Feb 2021
Gulf Today Report
Gold declined on Friday following gains in the dollar and Treasury yields but hope of more US stimulus capped losses.
Spot gold dipped 0.2% to $1,822.69 per ounce by 05:39 GMT while US gold futures slipped 0.2% to $1,823.30.
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According to Kyle Rodda, IG Market analyst, "the US jobs numbers sort of talked some sense of inflation risk out of the market and that may have weighed on gold."
Affecting gold’s appeal is the gain in the dollar and benchmark 10-year US Treasury yields.
In a note, ANZ analysts said gold remains supported "as the spectre of stimulus measures in the US rises."
