Pandit Ji Live Updat’s On Gold; Gold Inches Up As Equities Retreat On Recession Fears:

Spot gold was up 0.1 percent at $1,316.09 per ounce as of 0419 GMT. U.S. gold futures were also up about 0.1 percent at $1,315.70 an ounce.

Gold inched up on Wednesday, after declining the most in nearly two weeks in the previous session, as U.S. recession fears triggered by a sharp decline in U.S. Treasury yields and weak data weighed on the share markets.

Spot gold was up 0.1 percent at $1,316.09 per ounce as of 0419 GMT. U.S. gold futures were also up about 0.1 percent at $1,315.70 an ounce.

“Investors are very cautious on Treasury yield curve inversion, which had proven many times as early signal for a recession,” said Margaret Yang, a market analyst with CMC Markets, Singapore.

Yang said the falling Treasury yields gave market sufficient reason to take some hedging measures, which along with weaker-than-expected U.S. data supported the non-interest bearing gold.

For More News and Updates Stay Connected:
http://www.commoditypandit.com
https://api.whatsapp.com/send?phone=919557530026

Leave a Reply

Your email address will not be published.