By Amrith Ramkumar and Julia-Ambra Verlaine. U.S. government bond yields surged and gold prices tumbled after Friday's better-than-expected jobs report, the latest sign that investors are wagering on brighter days ahead for the world economy. The heavy selling of gold and Treasurys-- which fall in price as yields rise-- marks a major reversal in financial markets.
World Gold Council pegs global gold ETF holdings at a record 3,510 metric tons. Global gold-backed exchange-traded funds marked their largest annual inflow of the precious metal on record, in dollar terms, just five months into the calendar year, according to a report from the World Gold Council released Thursday. Year to date as of May, gold-backed ETFs saw inflows of $33.7 billion, or 623 metric tons, with the inflow in dollar terms topping the highest level of annual inflows of $24...
U.S. government bond yields surged and gold prices tumbled after Friday's better-than-expected jobs report, the latest sign that investors are wagering on brighter days ahead for the world economy. The heavy selling of gold and Treasurys-- which fall in price as yields rise-- marks a major reversal in financial markets. For months, investors had favored these haven investments as the coronavirus devastated the world economy and unemployment soared.
* U.S. non-farm payrolls data due at 1230 GMT. * Silver faces first weekly decline in five. * $1,670 key support, $1,750 key resistance for gold - analyst. * For an interactive graphic tracking the global coronavirus spread, open https://tmsnrt.rs/3aIRuz7 in an external browser. By Eileen Soreng.
* U.S. non-farm payrolls data due at 1230 GMT. * Silver faces first weekly decline in five. * $1,670 key support, $1,750 key resistance for gold - analyst. * For an interactive graphic tracking the global coronavirus spread, open https://tmsnrt.rs/3aIRuz7 in an external browser. By Harshith Aranya.
Gold futures settled higher for the first time in four sessions Thursday, getting a lift from weakness in the U.S. stock market and the dollar, as the euro climbed following the European Central Bank's decision to boost the size of its Pandemic Emergency Purchase Program. August gold rose $22.60, or 1.3%, to settle at $1,727.40 an ounce. On Wednesday, prices logged the lowest finish for a most-active contract since May 11, according to FactSet data.
Holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust, rose 0.08 percent on
Tuesday from Monday, while the largest silver-backed ETF, New York's ...
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