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Blip Lower On U.S. Fiscal Matters, But Little Changed For Now


An uptick in the USD and U.S. Tsy yields pressured bullion in Asia-Pac hours, with the move linked to the Biden stimulus chatter that we have flagged elsewhere. Gold has recovered from worst levels and didn't manage to threaten the recent low on the move. Spot last deals ~$5/oz softer on the day at $1,840/oz, with initial support located at the Jan 11 low of $1,817.5/oz. The U.S. fiscal impetus and its impact on U.S. real yields will likely drive bullion in the coming days.

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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