Home Industry Economy Gold steady as traders weigh dollar retreat, rising bond yields Traders are awaiting more clarity on central bank action to tackle searing inflation by Bloomberg July 20, 2022 Gold is holding near an 11-month low as investors weigh the US dollar’s retreat against rising Treasury yields amid improving sentiment in markets. Bullion has been stuck in a narrow trading range, closing little changed since Friday, as a gauge of the greenback fell for three straight days in a sign of waning haven demand. A decline in Treasuries took the 10-year yield back above 3 per cent. Traders are awaiting more clarity on central bank action to tackle searing inflation. The European Central Bank may consider raising interest rates on Thursday by double the quarter-point it outlined just last month, according to people familiar with the situation. The Federal Reserve’s meeting on July 26-27 will also be closely watched. Spot gold slipped 0.1 per cent to $1,709.95 an ounce at 7:55 a.m. in Singapore. Prices dipped below $1,700 last week for the first time since August. The Bloomberg Dollar Spot Index was little changed after dropping 0.5 per cent in the previous session. Silver, palladium and platinum were steady. Tags Economy Federal Reserve gold Platinum Silver Singapore 0 Comments You might also like Key trade deal brings UAE, Mauritius closer together Bahrain notched up 2.45% growth in third quarter of 2023 Has UK economy entered a recession? Q3 data suggest so UAE central bank raises GDP growth outlook to 5.7% in 2024