Gold edges higher at US$1,858

Business | 13 Jan 2021 12:09 pm

Gold prices edged up on Wednesday as the US dollar pulled back and the U.S. Treasury yields traded lower, while the outlook of a massive U.S. fiscal stimulus further boosted the metal's appeal as an inflation hedge, Reuters reports.

Spot gold added 0.2 percent at US$1,858.56 per ounce, while U.S. gold futures gained by 0.9 percent to US$1,860.10.

The benchmark 10-year Treasury yield fell from 10-month highs, dragging the dollar lower and making gold cheaper for other unit holders.

 



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