Gold Trims Weekly Gain as Yields Rebound on Improved Sentiment
- BofA CEO Moynihan says price pressures will stick around
- Traders raise bets on faster tightening by the Federal Reserve
A Suisse hallmark sits on Swiss-made one kilogram gold bars on display at the Precious Metals Exchange (SGPMX) at Le Freeport in Singapore
Photographer: Wei Leng Tay/BloombergThis article is for subscribers only.
Gold fell as Treasury yields rebounded on improved risk appetite, while investors continued to weigh the outlook for stimulus following a hot inflation print.
European stocks and U.S futures advanced Friday, bolstered by robust corporate earnings. U.S. bond yields rose after three straight days of declines, causing non-interest bearing gold to sink through its 50-day moving average.