Fed Governor Christopher Waller and St. Louis Fed President James Bullard said on Thursday they would support another 75-basis-point rate increase, but forecast a downshift to a slower pace afterward
Gains from easing bond yields worldwide; better rate comes against indicative yield of 9-9.25%
Gold is currently ranging above $1,800 backed by Treasury yields and the spike in US dollar strength
US Treasury yields tumbled on market expectations that US consumer prices will come down close to the Federal Reserve's inflation target.
Spot gold rose 0.3% to $1,842.85 per ounce by 1411 GMT. U.S. gold futures inched 0.4% higher to $1,845.20
Weekly jobless claims fall 3,000 to 229,000; continuing claims rise 3,000 to 1.31 mn
US Treasury bonds have stormed world markets until recently. They have now eased up a bit with other commodities finding ground. Bear market meanwhile is still prowling
Market reports suggest that gold has moved inversely to the US Dollar while Treasury yield have risen to a its peak since May 9th
The yen tumbled to its lowest against the dollar in 24 years on Monday, as the gap between Japanese and US benchmark yields widened after red hot US inflation data drove US Treasury yields higher
According to the report, India (with $569.9 billion) has the fourth largest foreign exchange after China ($3.2 trillion), Japan ($1.2 trillion) and Switzerland ($1 trillion)
Chip stocks tumble after Citi sounds alarm on Intel; the energy sector was among the few gainers with a rise of 0.8%, thanks to a jump in Brent crude prices to above $123 a barrel
Spot gold fell 0.1% to $1,850.10 per ounce by 1012 GMT, while U.S. gold futures were flat at $1,851.90
US Treasury Secy said she saw bulk of inflation being caused by supply and demand mismatches, including excessive demand for goods over services during the pandemic and severe supply chain disruptions
Gold prices on the rise as treasury bond yields have weakened US dollar's strength.
A stronger dollar makes bullion more expensive for buyers holding other currencies, while gains in benchmark US 10-year Treasury yields reduce the appeal of zero-yield gold.
The U.S. dollar strengthened following hawkish comments by a senior Federal Reserve official causing gold to retreat, Ricardo Evangelista, senior analyst at ActivTrades said in a note.
Benchmark 10-year note yields were down on the day, after briefly rising on strong spending data, while the dollar was headed for a second consecutive week of declines.
The dollar index, which measures the safe-haven currency against a basket of six other major currencies, fell as low as 101.43, its weakest since April 25.
Consumer spending, which accounts for more than two-thirds of US economic activity, increased 0.9% last month, and although inflation continued to increase in April, it was less than in recent months
Russia has around $40 billion of international bonds outstanding, with just under $2 billion in external debt servicing left until year-end