Gold prices showed mixed trading amid rising US dollar
Gold prices were mixed on Thursday as the US dollar rose against major currencies for the first time this week. US bond yields remained stable ahead of reports on key indicators of the labor market and inflation in the US.
Spot gold was marginally higher at $ 1,897.13 an ounce, hitting its highest level since Jan. 8 at $ 1,912.50 on Wednesday. US gold futures fell 0.2% to $ 1,897.30 an ounce.
Gold prices showed mixed trading amid rising US dollar
The US dollar found support amid signs that the Federal Reserve is slowly but surely getting closer to discussing monetary tightening.
Federal Reserve Deputy Chairman for Oversight Randal Quarles said on Wednesday that he is ready to begin negotiations on cutting emergency support measures if the economy continues to recover from the health crisis.
Fed officials have been downplaying rising price pressures of late, but the change in tone suggests the time to talk about policy changes may be approaching.
Bank of Korea Governor Lee Zhu Yol said the bank is preparing for an orderly exit from a record low interest rate policy amid accelerating inflation.
Bank of Korea Governor Lee Zhu Yol said the bank is preparing for an orderly exit from a record low interest rate policy amid accelerating inflation.
On Wednesday, the Reserve Bank of New Zealand (RBNZ) surprised many by saying it could raise interest rates as early as September next year.
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