Gold Erases 2021 Loss With Fed Policy Steady, Bond Yields Ebbing
- Spot metal has risen in eight of the past nine sessions
- Drop in U.S. new-home sales boosts haven demand for gold
This article is for subscribers only.
Gold erased 2021 losses as signs of inflationary pressures stoked growth concerns and Federal Reserve officials assured investors on the outlook for monetary policy.
Central bank officials reiterated that they expect transitory rather than lasting price pressures from the U.S. economic rebound, damping speculation around any push to tighten policy. Declines in Treasury yields also underpinned gains in precious metals. Bullion has risen in eight of the past nine sessions.