Gold futures seen for weekly gain over 1%
Market talk cites resilient investment demand, despite higher U.S. Treasury yields and a stronger dollar, with Saxo Bank’s Ole Hansen outlining potential support scenarios.
S. Treasury yields rise and the dollar strengthens. Ole Hansen of Saxo Bank said higher borrowing costs could ultimately support gold in two ways. An economic slowdown could drive yields lower, while a more persistent inflation backdrop may keep demand for the metal intact.