Gold prices rose on Wednesday, to head for the third gain in 4 days, thanks to a drop in the US Treasury bonds, ahead of key data in the US.
Gold prices rose 0.2% to $1,896.34 an ounce, after opening at $1,892.11, and hit a low of $1,887.28.
Gold lost 0.3% yesterday, marking its first daily loss in 3 days, due to a rebound in the US dollar.
The US 10-year Treasury yield fell 2% today to a 5-week low at 1.503%, which boosts the market’s risk appetite.
Markets await US inflation data tomorrow, which would set estimates correctly for policy tightening by the Fed in the next few years.
Gold stocks at the SPDR ETF remained unchanged yesterday yesterday, with the total at the lowest level since May 20 at 1,037.33 metric tonnes.