Gold rises more than 1% as dollar eases
Gold futures advanced in early European trade as the dollar softened and oil prices fell. Traders were also reassessing the inflation and interest-rate outlook.
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Gold futures advanced in early European trade as the dollar softened and oil prices fell. Traders were also reassessing the inflation and interest-rate outlook.
U.S. Treasury yields fell in Asian trade, extending Thursday’s declines after a strong 30-year auction. The 10-year yield eased to 5.222% and the 30-year to 5.605%.
The dollar index is firmer and Treasury yields are near multiyear highs, pressuring grain futures and other commodities. The roundup also includes analyst views on euro weakness, euro adoption prospects and fixed-income valuations.
U.S. Treasury yields are hovering near multiyear highs as investors watch Federal Reserve commentary and a 30-year bond auction. The 10-year yield traded as high as 5.353%, while the 30-year yield was around 5.696%.
Bitcoin fell 1.2% to $82,422 as a market note said the asset is increasingly competing with other asset classes for long-term portfolio allocation. The note said the decline should be viewed in the context of bitcoin’s broader mainstreaming, while still remaining sensitive to macro conditions and investor sentiment.