Gold prices were set for a second weekly gain as talks between Russia and Ukraine made little apparent progress, although bullion saw a dip on Friday as elevated U.S. Treasury yields on the back of inflation data assuaged its safe-haven appeal. Spot gold was down 0.2% at $1,992.94 per ounce, as of 0203 GMT. U.S. gold futures were flat at $2,000.10.
Instruments Code Dividend in instrument currency (value per Instrument for Long positions) Dividend in instrument currency (value per Instrument for Short positions) Date Time (GMT) Index Honk Kong 50 Cash/Futures 1.1820 -1.1820 24/03/2022 21:59 Australia 200 Cash/Futures 0.1131 -0.1330 24/03/2022 21:59 US SPX 500 Cash/Futures 0.0298 -0.0350 24/03/2022 21:59
One important reason is lower bond prices mean higher bond yields. Investors who hold bonds for income are pleased when their prices fall, because those bonds continue paying the same income as before.
Analysts noted that gold is consolidating in a narrow range following a sharp decline.