Gold edges up on lower US yields, Federal Reserve rate cut hopes
Thursday, 4 July 2019 13:15 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold prices inched up on Thursday, supported by a decline in U.S. Treasury yields amid prospects of an interest rate cut by the Federal Reserve, while investors sought direction from upcoming U.S. non-farm payrolls data.

Spot gold was 0.1% higher at $1,419.23 per ounce, as of 04:26 GMT. Prices touched $1,435.99 on Wednesday, their highest since June 25. U.S. gold futures ticked up 0.1% to $1,421.8 an ounce.

This is a market that expects interest rate cuts, mainly in line with expectations the European Central Bank™s next chief would stay dovish, said Helen Lau, analyst, Argonaut Securities.

meanwhile, Silver was up 0.1% at $15.31 per ounce, and platinum dipped 0.3% to $834.36 per ounce.

Source : Reuters

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