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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Reports
Monthly Economic Update: Waiting on Jay Powell
September 2, 2025 DOWNLOAD
コンテナターミナル
Economic Updates
Philippines Trade Update: Trade deficit narrows but not a sign of strength
August 29, 2025 DOWNLOAD
Frick collection with palm trees 
Economic Updates
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August 28, 2025 DOWNLOAD
View all Reports
Markets 2 MIN READ

Gold gains, set for weekly rise as US yields drop

August 12, 2022By Reuters
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Aug 12 (Reuters) – Gold prices drifted higher on Friday helped by a drop in U.S. Treasury yields and setting the metal on path for a fourth straight week of gains, as investors took stock of the recent inflation data out of the United States.

Spot gold rose 0.5% to $1,798.86 per ounce by 1800 GMT and was headed for a more than 1% weekly rise. U.S. gold futures GCv1 also settled up 0.5% at $1,815.5.

“Currently the gold market is seeing some short-covering and is supported by lower yields,” said Bart Melek, head of commodity strategy at TD Securities.

U.S. Treasury yields dipped after a volatile week as investors evaluated whether an apparent slowdown in inflation increases could reduce the speed of Federal Reserve interest rate hikes.

Data released earlier this week indicated that inflation in the U.S. has cooled down, following which market participants toned down expectations of an aggressive rate hike by the Fed.

However, recent Fed commentary continues to be hawkish and have stopped the metal from breaking above the $1,800 level.

“Gold’s rally, after cooler CPI numbers, stopped in its tracks as the market believes inflation will continue to be a problem. Fed speakers have also suggested they can’t afford to relinquish the fight against inflation,” Melek added.

Gold tends to do well in a low-interest environment as it yields no interest.

“Rising risk appetite as seen through surging stocks and bond yields … have so far prevented the yellow metal from making a decisive challenge at key resistance above $1,800,” Saxo Bank analyst Ole Hansen said. .N

Meanwhile, high domestic prices restrained physical gold demand in India this week, while uncertainty surrounding Taiwan-related developments prompted bullion importers in China to hold off on big purchases.

Spot silver rose around 2% to $20.70 per ounce, platinum was up 0.3% at $958.57, while palladium fell 1.8% to $2,235.09.

(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Shounak Dasgupta)

This article originally appeared on reuters.com

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