Gold Dropped As A Firm Dollar Offset Bullion’s Gains

Gold dropped as a firm dollar offset bullion’s gains emanating from fears of a possible recession in the United States.

The 10-year U.S. Treasury yield fell further, having fallen below the yield for three-month bills for the first time since 2007, inverting the yield curve.

An inversion is widely seen as indicating an economic recession. Facing rising threats to growth, the European Central Bank could further delay a planned increase in interest rates if it needs to and may look at measures to mitigate the effects of negative interest rates, ECB President Mario Draghi said.

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