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Gold maintains its largest decline in six weeks after bond yields soar

Gold has been stable after recording its largest decline in six weeks as bond yields soared, and investors are preparing for a 2022 monetary tightening.

According to the report, 10-year government bonds were the worst at the beginning of the year with more than 10 years, and the yield on Monday rose by 12 basis points, the largest rise on the first day since 2009. Bloomberg data. Meanwhile, the S & P 500 Index closed at record highs in risk-on-sentiment.

Bullions fell last year, the largest annual decline since 2015, as central banks began dialing back stimuli for the pandemic era to combat inflation. Traders are also monitoring the risks posed by variants of the Omicron virus, this week focusing on minutes from the latest Federal Reserve meeting and US non-farm payrolls data.

Spot gold rose 0.1% at 7:45 am in Singapore to $ 1,803.81 an ounce, the highest since 22 November, after falling 1.5% on Monday. The Bloomberg Dollar Spot Index was flat after rising 0.5% in the previous session.

Silver and platinum were stable, but palladium advanced.



https://gulfbusiness.com/gold-holds-biggest-decline-in-six-weeks-after-bond-yields-surge/ Gold maintains its largest decline in six weeks after bond yields soar

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