SOLID GOLD BERJANGKA | Gold edged higher after a two-day drop, with investors continuing to watch for further strength in Treasury yields.
Attention is returning to wild swings in the US bond market after yields breached 5% on Monday for the first time in 16 years. Asset managers are continuing to unwind their net long positioning on long-bond contracts, a move that’s likely to support yields over the coming weeks. Higher yields are typically negative for non-interest bearing gold.
The metal reached a five-month high last week on a sharp rally sparked by conflict in the Middle East, though haven appetite is waning as concerns over a potential spillover ease.
Investors will be closely watching a speech Wednesday by US Federal Reserve Chairman Jerome Powell for clues on the path for interest rates.
Spot gold was 0.2% higher at $1,974.04 an ounce as of 8:24 a.m. in Singapore. The Bloomberg Dollar Spot Index was steady, after notching a 0.3% gain on Tuesday. Silver. and palladium climbed, while platinum was little changed.
Source : Bloomberg, PT SGB, SOLID GROUP, SOLID GOLD BERJANGKA
Source : Bloomberg, PT SGB, SOLID GROUP, SOLID GOLD BERJANGKA
Source : Bloomberg, PT SGB, SOLID GROUP, SOLID GOLD BERJANGKA
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