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| Commodity News |
| HeadLine : |
Gold Prices Claw Back Losses Despite Dollar Strength |
| Date : |
Apr 20 2018 |
Gold prices clawed back some of their losses shrugging off a move higher in the dollar and a surge in bond yields. Gold prices remained above their lows of $1,348.50 as traders continued to support the precious metal despite economic data pointing to inflationary pressures, spurring bond yields and the dollar higher. The U.S. bond 10Y yields rose above 2.9% as traders bet that inflation and economic growth would remain firm in the wake of stronger Philly Fed data signalling a continued expansion in input prices. The Philadelphia Fed said Thursday its manufacturing index rose to a reading of 23.2, a three-month high, from 20.8 in April. Positive sentiment on gold prices seen last week has eased somewhat as safe-haven demand dropped after U.S. military action in Syria was less extensive than some had feared while U.S.-North Korea tensions calmed.
Source: Investing.com
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