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Gold holds near two-month high as firmer yields counter softer dollar

Gold prices edged down on Thursday, hovering near a two-month high, with a weaker dollar countering pressure from higher bond yields

Photo: Andrey Rudakov/Bloomberg
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Photo: Andrey Rudakov/Bloomberg

Reuters
Gold prices edged down on Thursday, hovering near a two-month high, with a weaker dollar countering pressure from higher bond yields, as traders looked for clues on the Federal Reserve's pace of interest rate hikes from its policy meeting next week.

Spot gold was last down 0.1% at $1,838.62 per ounce, by 0407 GMT, after hitting its highest since Nov. 22 at $1,843.94 earlier. Prices jumped the most in three months on Wednesday on a weaker dollar and increased safe-haven demand.

U.S. gold futures fell 0.2% at $1,839.90.

Although there is some profit-taking after Wednesday's jump, the Russia-Ukraine situation may still fuel a

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First Published: Jan 20 2022 | 11:30 AM IST

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