Friday, 5 July 2019

Gold Prices Steadied Amid Decline In U.S. Treasury Yields Amid Prospects

Gold trading range for the day is 34029-34409.

Gold prices steadied amid decline in U.S. Treasury yields amid prospects of an interest rate cut by the Federal Reserve.

U.S. Treasury yields fell with 10-year yields hitting their lowest in over 2-1/2 years as euro zone yields tumbled on record lows.

U.S. President Donald Trump nominated Christopher Waller and Judy Shelton to the U.S. Federal Reserve Board – both candidates are seen as dovish in their policy stance.

India's gold imports rose 12.6% in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs.

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