Markets
Commodities
Gold Consolidates Near Recent Highs as Real Yields Ease
Bullion held its ground after last week’s advance, with softer US real yields offsetting a firmer dollar.
Gold held close to recent highs after last week’s advance. Lower US real yields, which reduce the opportunity cost of holding a non-yielding asset, offset the effect of a firmer dollar.
Central-bank purchases reported in official reserve data have also been cited as a source of support. Commodity prices can reverse quickly, and leveraged exposure to them magnifies losses as well as gains.
Sources and data
- US Treasury, real yield curve rates (official data)
- IMF, International Financial Statistics reserve data
Corrections and updates
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