Home Economy PRECIOUS-Gold ticks higher as U.S. bond yields, dollar ease

PRECIOUS-Gold ticks higher as U.S. bond yields, dollar ease


Oct 18 (Reuters) – Gold prices edged up on Monday, recouping some losses after a steep sell-off in the previous session as U.S. bond yields and the dollar softened, restoring some of the precious metal’s appeal.


* Spot gold rose 0.2% to $1,770.26 per ounce by 202 GMT, after slipping 1.6% on Friday.

* U.S. gold futures were up 0.1% at $1,770.50.

* Benchmark U.S. 10-year Treasury yields eased after rising to a high of 1.5904% on Monday, reducing non-yielding gold’s opportunity cost.

* Treasury yields rose sharply on Friday after data showed U.S. retail sales unexpectedly rose in September which bolstered expectations for sooner-than-anticipated interest rate hikes from the Federal Reserve.

* Also supporting bullion, the dollar index slipped 0.6% from last week’s 2021 highs, as investors figure that while inflation might pull forward the Fed’s rate hikes, other central banks may need to be more aggressive over the tightening cycle.

* Bank of…

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