A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary, on Wednesday, July 20, 2016.
Akos Stiller | Bloomberg | Getty Images
Gold prices were flat on Thursday, as an elevated U.S. dollar and rising Treasury yields weighed on greenback-priced bullion, with the metal’s outlook already dampened by an aggressive Federal Reserve stance on inflation.
Spot gold held its ground at $1,813.96 per ounce, as of 0512 GMT. U.S. gold futures were flat at $1,813.40.
Gold’s daily closing price is effectively hugging the trendline projected from the March 2020 (pandemic) low, and intraday volatile spikes either side of that key trendline have lacked conviction to prompt a sustainable move, City Index’s senior market analyst Matt Simpson said.
Bullion has largely seemed to track daily moves in the dollar and benchmark U.S. 10-year Treasury yields in recent weeks, with…
