Gold Profits With Improved Appetite Thanks To The Lower Dollar And US Bond Yields | latest news

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Gold prices rose on Wednesday April 21, hovering near their seven-week highs reached earlier this week, as demand for the safe-haven metal rose due to the decline in US Treasury yields.

Spot gold rose 0.5% to $ 1786.80 an ounce by 06:57 GMT, after reaching $ 1789.77 on Monday, its highest level since February 25.

US gold futures gained 0.5% to $ 1786.90 an ounce.

Traders are now looking forward to the European Central Bank meeting on Thursday for more clarity on the stimulus plans for the bloc. The US Federal Reserve is due to hold its policy meeting next week.

Gold is considered a hedge in the face of inflation that may follow stimulus measures, but higher Treasury yields have wiped out some of the metal’s appeal, which is not yielding a return this year.

As for the other precious metals, silver rose 0.9% to $ 26.09 an ounce. Palladium gained 0.9% to $ 2786.94, while platinum rose 1% to $ 1199.03.





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