Gold prices traded modestly higher on Monday as the yellow metal aimed for back-to-back gains after a lengthy losing streak.
Price action Market drivers Investors absorbed a flurry of news to start the week, including smaller-than-expected interest-rate cut by China’s central bank.
The People’s Bank of China lowered its one-year loan prime rate by 10 basis points to 3.45%, while the five-year LPR was held at 4.2%. The U.S. dollar weakened following the announcement, while Treasury yields continued to march higher. However, gold strengthened in spite of the rise in yields, a sign that the yellow metal is recouping some of its losses following a punishing four-week losing streak.
“Gold is trading little-changed after extending its losing streak for the fourth consecutive week,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. The ICE U.S. Dollar Index DXY, a gauge of the buck’s strength against a basket of rivals, was off by 0.2% at 103.19, while the yield on the 10-year Treasury note BX:TMUBMUSD10Y increased by 5.5 basis points to 4.302%.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
PM Update: Above-average warmth gains additional humidity tonight, MondayHeat index values could hit the upper 90s in a few spots Monday. Wildfire smoke is expected to stay moderate.
Baca lebih lajut »
SDSU to transition to virtual classes Monday, citing storm safety concernsThe university says it plans to return to normal in-person instruction and on- campus work on Tuesday.
Baca lebih lajut »
Seattle air quality alert will continue until MondayHow to avoid the wildfire smoke in Seattle.
Baca lebih lajut »
Seattle Weather: Smoky Sunday with some clearing into MondaySmoky skies for Western WA Sunday as critical fire weather continues to be elevated for the Cascades and Eastern WA. Much of the state remains under an Air Quality Alert.
Baca lebih lajut »
Sports on TV for Monday, August 21(All times Eastern) Schedule subject to change and/or blackouts Monday, August 21 ESPN — Little League World Series: Willemstad, Curaçao vs.
Baca lebih lajut »