Gold Edges Higher With Lower Yields as Traders Eye US Rate Path
- Investors await US inflation data to gauge Fed’s next move
- Bullion has gotten support in recent weeks from haven demand
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Gold inched higher as Treasury yields pared their recent surge, with traders temporarily looking beyond the Federal Reserve’s aggressive interest-rate hike path.
Bullion rose as much as 0.8%, rebounding from the worst daily loss in two weeks in the previous session. On Friday, a stronger-than-expected US jobs report added to the case for more Fed monetary tightening, pushing up the dollar and bond yields while crushing gold since it pays no interest and is priced in the greenback.