PRECIOUS-Gold hovers near 5-wk lows amid dollar pressure, rising yields

By Reuters / April 27, 2018 / in.investing.com / Article Link

BENGALURU, April 26 (Reuters) - Gold prices on Thursday stayed close to five-week lows hit in the previous session, pressured by a stronger dollar, which hovered near more than three-month highs, and a rise in U.S. Treasury yields.

FUNDAMENTALS

* Spot gold XAU= was little changed at $1,323.34 per ounce at 0101 GMT. The yellow metal on Wednesday hit a low of $1,318.51 an ounce, its lowest since March 21.

* U.S. gold futures GCcv1 gained 0.1 percent at $1,324.60 an ounce.

* The dollar index .DXY , which measures the greenback against a basket of currencies, was steady at 91.177 after rising to as much as 91.261 in the previous session, its highest since Jan. 12. FRX/

* Asian stocks edged up on Thursday as robust corporate earnings helped Wall Street quell concerns over a surge in U.S. bond yields. MKTS/GLOB

* The benchmark U.S. Treasury 10-year yield edged above 3 percent on Wednesday as jitters about growing federal borrowing spurred more selling in the U.S. government bonds, paving the path for it to visit levels not seen since July 2011. US/

* The European Central Bank is set to keep policy unchanged on Thursday, playing down worries over recent softness in the euro zone economy and leaving the door open to ending its lavish bond purchase scheme by the close of the year. U.S. retail investors are losing their appetite for physical gold as buoyant stock markets offer tempting alternatives, sending sales of newly minted coins to their lowest in a decade. Australia's biggest gold miner Newcrest Mining Ltd NCM.AX on Thursday reported a fall in third-quarter output and cut its full year production forecast for gold and copper. Kyrgyz gold miner Kyrgyzaltyn has not yet seen or studied an offer by Chaarat Gold Holdings CGH.L to take over the Kumtor gold mine, its deputy chief executive, Bektur Sagynov, said on Wednesday. South Africa's Gold Fields GFIJ.J reported lower production for the March quarter and flagged more challenges at its problematic South Deep mine on Wednesday, sending its share price sharply lower. World No. 1 platinum producer Anglo American (LON:AAL) Platinum (Amplats) AMSJ.J said on Wednesday it had raised 390 million rand ($31 million) after the sale of most of its stake in smaller black-owned rival Royal Bafokeng Platinum RBPJ.J . AHEAD (GMT)

0600 Germany

GfK consumer sentiment

May

1145 European Central Bank interest rate announcement

1230 ECB President Mario Draghi holds news briefing

1230 U.S.

Durable goods

March

1230 U.S.

Advance goods trade balance March

1230 U.S.

Wholesale inventories

March

1230 U.S.

Weekly jobless claims

Recent News

Gold stocks down as metal and equities momentum fades

September 02, 2024 / www.canadianminingreport.com

Another Kazatomprom guidance announcement shakes uranium price

September 02, 2024 / www.canadianminingreport.com

Major monetary drivers still supporting gold

August 26, 2024 / www.canadianminingreport.com

Gold stocks gain on metal rise and continued equities rebound

August 26, 2024 / www.canadianminingreport.com

Big Gold stocks outperform Big Base Metals

August 19, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok